Nidhi Company Registration
Register your Nidhi Company ₹ 17,999/- only (Inclusive of all fees)
Get Started By paying Rs. 17,999/-
Introduction of Nidhi Company
Nidhi Company means a Company engaged in receiving deposits and lending loans to its Members only for their mutual benefits. It is incorporated as a Public Limited Company and is different from National Banking Finance Company governed by the RBI Act and other Companies incorporated under Companies Act, 2013. The purpose behind incorporating a Nidhi Company is to develop a habit of saving and thrift among its Members.
It is not directly regulated by the RBI but is required to follow some of the directives that are issued by the RBI from time to time for acceptance of deposit. It is an ideal type of entity for a specific group of people intended to deposit or lend money.
Sprinthub Solutions has team of experts providing you the best assistance, timely delivery and guaranteeing the highest customer satisfaction with respect to Company formation process. You may get in touch with our team on 096436-69475 or email info@sprinthub.in for Nidhi company registration and Compliance services.
Advantages of Nidhi Company
Good option for savings
As the main objective of establishing Nidhi Company is to develop a habit of savings among the people for their mutual benefit as they can only lend and borrow money from their members only.
Less Complexity
Nidhi Company involves less complexion and can be incorporated with an amount of Rupees 5 Lakhs which is to be raised to 10 lakhs in a year and the loans from the Nidhi Company can be availed at cheaper rates than NBFC's.
Micro Finance
Nidhi Company lends money in the remote as well as rural areas of the country and which are on the off site locations.
Easy Access to Public Funds
Nidhi company can take deposits from its members through various accounts like Saving Account, FD A/c, Rd A/c which is less complex than taking finance from banks and other Financial Institutions.
Limited Liability
The liability of the Members is limited to the extent of Capital invested by them in the Company and therefore, they cannot be held personally liable for it also it is a legal entity which means it is different from its Members and Directors.
Better Credit Co-operative society
Nidhi Company has some similarities to the co -operative society and is suitable for the small financers. Once it gets registered it can avail the benefits of credit co-operative society.
Minimum Requirement
Minimum three persons as Director and maximum fifteen
Nidhi Company cannot issue Preference shares
Minimum seven persons as Members
Minimum one Director shall be Indian resident
Minimum Capital requirement of Rs.5 Lakhs
Digital Signatures of Subscriber and Directors
Documents Required for Incorporation
Process of Incorporation of Nidhi Company
Complete the Application Form
You are requested to first fill the simple questionnaire provided by our expert team.
Application for DSC
First of all DSC (Digital Signature Certificate consisting of the E-signatures) is required to be prepared. This step can be ignored if prepared already. It will approximately take 1-2 days.
E-filing for incorporation of a Company
Once the name is approved, an online application is required to be filed through SPICE+ along with the requisite documents as obtained from the client with ROC. The MOA as well as AOA shall be filed online. This process again takes approximately 2-3 days.
Document Processing
At the second step we will be requiring the documents in accordance with the questionnaire filled by you so that we can arrange them as per the requirement and for processing.
Name Availability
The next step is to check the name availability. The name should be unique in nature and should not be similar to name of any other entity registered. It may take at least 1-2 days.
Get Certificate of Incorporation
Once the Company gets incorporated we will share all the docs like Incorporation Certificate, MOA , AOA and Digital Signatures.
Post Registration Requirements
Minimum 200 Members should be there by the end of the year
Net Owned Funds should be 10 Lakh Rupees or more
Unencumbered deposits should be more than 10% of outstanding deposits
The ratio for Net Owned Funds to Deposit should not be more than 1:20
Loans & Deposits
Nidhi companies have an advantage over other type of finance vehicles that they can lend loans and accept deposits from general public (members) without the approval of RBI. It is important to know the basics before doing the same
Loans
You are requested to first fill the simple questionnaire provided by our expert team.
Complete the Application Form
You are requested to first fill the simple questionnaire provided by our expert team.
Compliances of Nidhi Company of Post Incorporation
NDH-1
: NDH-1 is a one-time form to be filed by Nidhi Company within 90 days of the closure of the first financial year or second where applicable.
NDH-3
form is filed within 30 days on half yearly basis and details of the members, deposits, loans are reported to department.
NDH-4
form has to be filed within 60 days of the conclusion of one year of incorporation for declaration of the status as Nidhi Company.
Other Forms
Nidhi has to file other forms like AOC-4, MGT-7, MGT-14 and other event based forms as per the applicability.