Nidhi Company Registration

    
                Nidhi Company Registration            
                    
        Nidhi Company Registration Agreement

An excellent option for people looking to save money and lead a thrifty lifestyle.

    
      Steps    

                How it Works            
                    
        Who Should Register For A Nidhi Company?

One DSC & three DINs

The directors must be registered with the MCA

Company Name Reservation

Deciding on a company name and registering it

RBI Approval

Principle approval from RBI

    
      Overview    

                An Overview            
                    
        What is Nidhi Company?

It is a company classified as an NBFC (a Non-banking financing company) and registered under Section 406 of the Companies Act 2013. The main business of such a company is to facilitate lending money between the core members of the company. This way, members (or shareholders) are encouraged to save money and invest them within the company. The company then uses these deposits for its members (or shareholders) to provide loans or advances and to acquire government-issued stocks/bonds/debentures/securities. It is regulated by the Ministry of Corporate Affairs, while the RBI monitors all its financial dealings.

At least seven members are mandatory to form a Nidhi registration. Out of these, three should be designated as the directors. However, it should acquire a minimum of 200 members within one year of commencement.

Moreover, the company should have a minimum equity share capital of Rs 5 lakhs, for the Nidhi company registration process. This entire amount has to be paid up. However, the Net Owned Funds (NOF) must be increased to Rs 10 lakhs within a year of Nidhi Registration.

At least 10% of its outstanding deposits should comprise of unencumbered term deposits

    
      Company    

                Nidhi Company Registration            
                    
        Process for e_Nidhi Company Registration

Contrary to what you might think, registering a Nidhi registration is a simple 3-Step process and can be done completely online. We’ve laid it out below.

Name Reservation – We help you reserve your name with MCA.
DSC and DINs – We help you get 1 DSC and 3 DINs.
Documents and approval – We help you at every stage of the documentation process and in getting in-principle approval from the RBI.

Cheaper To Borrow

As a member, one can borrow money at a minimum rate, relative to the rate at which banks lend money. This can be a major advantage in times of need, as different individuals in the mutual benefit society are likely to need funds at different points in time.

Encourages Savings

It encourages all its members to save money and encourages a thrifty lifestyle.A Nidhi registration, after all, is a mutual benefit society wherein members can lend or borrow money and accept financial aid amongst them.

Documents Required for Nidhi Company Registration Online

Self-attested copy of PAN Card is very important for e nidhi registration process

Self-attested copy of Driver’s License/ Voter ID/ Aadhaar Card/Passport is very important for e nidhi registration process

Self-attested copy of Bank Statement/ Telephone Bill/Mobile Bill/ Electricity Bill is very important for e nidhi registration process

Passport-size Photograph is very important for e nidhi registration process

Specimen Signature Certificate is very important for e nidhi registration process

    
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                Testimonial            
                    
        What people say about us

    
                FAQs            
                    
        FAQs on Nidhi Registration!

How can I expand the operations of my Nidhi Company to different areas?

A minimum of three branches can be opened in a particular district. In case you want to expand outside the district or want to open more than three branches, the Registrar of Companies need to intimated 30 days prior to their opening.

In a Nidhi Company, are members allowed to credit or debit cash to the general fund?

No, members are only allowed to deposit, borrow, or lend funds.

What are the criteria to become a representative of a Nidhi Company?

Any person can deposit, lend or borrow money through the provisions provided by the Companies Act, 2013. Hence, they can all become members of a Nidhi Company. provided they are not a corporation or a company.

In a Nidhi Company, what should the limit for cash deposit be, for its representatives?

A Nidhi Company can accept deposits not exceeding 20 times of its net owned assets, as per the last audited statements.

    
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