What is Nidhi Company Registration?

A Nidhi Company is one that belongs to the NBFC (Non-Banking financial sector) and is recognized under section 406 of the Companies Act, 2013. Their core business activity is borrowing and lending money only to its members. Nidhi Company can freely accept deposits from members and give money to its member. The fund, which received from members and can only be utilized by its members. RBI is empowered to issue directions to them in matters relating to deposits from members. Nidhi Company cannot accept deposits from other than its member.

Package Inclusions:

 


Advantage of Nidhi Company Registration

Limited Liability

Liability of Members and Directors of the Nidhi Company is limited. It means that if the company suffers from any loss and faces financial distress because of primary business activity, the personal assets of Members / Directors will not be at risk of being seized by banks, creditors, and government.

Better Credibility

A Nidhi company enjoys better credibility when compared to any other members based Organizations like trust, cooperative society or any other form of NGO. Nidhi companies are registered and monitored by the Ministry of corporate affairs.

 

Less Compliance

A director of a Nidhi company can be easily added or removed by filing simple forms with the Registrar of Companies. The Board of Management of a Nidhi company controls the activities of the Nidhi Company.

 

Nidhi Company Registration Process:

1

DSC (Digital Signature Certificate)

All Propose directors of the Nidhi Company should have a digital signature and digital signature will use to file the registration, ROC compliance forms, and Tax returns.  

2

 

Director Identification No (DIN)

DIN is mandatory to form a company, when a Digital signature is approved, and you will get an approval email from the Registrar of companies that you are now eligible to be a director of a company. 

3

Nidhi Company Name approval

After a Trademark search, we will proceed to file a Name Approval form to ROC on your behalf. It takes 2 to 3 working days to get approval from the Registrar of Companies.

4

Final Incorporation Form

After Name approval from the Registrar of Companies, we will file a final incorporation form with all supporting documents like registering address proof, Declaration from directors.

 

Minimum requirement at time of registration

From All Directors and Shareholder. 

For Proposed Registered office (Residential or commercial)

 

Mandatory requirement for Nidhi company registration

 

Minimum Requirements After Registration

Compare Your Options

Particulars Nidhi Company
(Mutual benefit Society )
Multi-state
Credit society
NBFC-MFI
(Micro Finance )
NBFC-ND
Governing Laws Companies Act. 2013 MSCS Act. 2002 RBI Act. 1934 RBI Act. 1934
Recommended for Member based
Mutual benefit society
Non-Commercial Banking and NPO Poor and lower income group. Commercial Banking Business
Initial Capital Rs. 10 Lakh For General credit Rs. 2 Lakh and for Urban bank Rs. 4 Crore Minimum Rs. 5 Crore. Minimum Rs. 2 Crore
Loan Limit No. No. Maximum Rs. 50,000 No.
Members 7 at the time of registration and after registration min 200. Min 50 from at least 2 state. In total 100 7 7
Directors 3 7 3 3
Operations PAN India In a District or state PAN India PAN India
Credibility 8/10 6/10 10/10 10/10
Registration time Maximum 40 working days Maximum 120 working days Maximum 180 Working days Maximum 120 Working days
Registering Authority  Registrar of Companies State Government and Central Govt. ROC & RBI ROC & RBI
Popular Medium Low High High
Deposits Yes. From only its members Yes. freely from public with certain limitation No. No.
Loan To Members only To Everyone For lower income group  To Everyone
Funding From Members only From Members and Public From Members and Governments From Members and FDI
Government aid No Low High No.
RBI License No. No. Yes. Yes.
RBI Act Yes. Yes. Yes. Yes.

 

Why Enterslice

  • 1Service Handled By 70+ Qualified Chartered Accountants And Company Secretaries.
  • 2100% Accuracy Guaranteed As Entire Process Managed By CA & CS.
  • 3Our Partner Of Firm Will Be In Direct Touch With You.
  • 4We Offer All Services For Startup From Registration Like Company, Vat And Legal And Assisting Startup In Fundraising.
  • 5We Are Among Top 25 Accounting And Tax Consulting Firms In India.
  • 6We Are Among Top 100 Innovative Fin-Tech Companies By The Red Herring Asia.

Enterslice working process

How We Can Help You

© 2017 ENTERSLICE ITES PRIVATE LIMITED . All rights reserved.