NIDHI Company is the easiest way for to enter into financial market, we incorporate NIDHI Company in Bhojpur in less than 15 days time. We also give after incorporation return filing and 1 year clear consultancy service. We are the experts in combination and agreement of NIDHI Company. Very few firms in Jharkhand are managing NIDHI Companies as providing authenticated aid to such company is not everyone’s cup of tea, but we took care of anything your issue needs in a compliance friendly manner.
NIDHI Company is a company incorporated under Companies Act, 2013 when the ambition of cultivating the habit of thrift and mass among members. This means that a NIDHI Company can take deposit and lend grant to its members subject to positive restriction as may be imposed on it from grow old to time.
IS NIDHI COMPANY REQUIRED TO APPLY FOR NBFC LICENSE OR ANY OTHER RBI REGISTRATIONS?
No, NIDHI Company is solely governed by the provisions of Companies Act, 2013 and Nidhi Rules, 2014 and RBI has interference in the effective of NIDHI Company.
RBI has vide Notification Clarified that NIDHI Companies i.e. a non-banking financial company -notified below section 620A of the Companies Act, 1956 (Act 1 of 1956), as NIDHI Company shall be exempt from the provisions of Chapter III B of the RBI Act, 1934.
RESTRICTIONS ON NIDHI COMPANY?
After Registration NIDHI Company must fulfill like conditions in order to keep working:
- Must amass 200 members within 1 year of its incorporation.
- Must lend child maintenance and take deposit only to/from its members.
- Must not advertise not quite its facilities in any way of being what suitably ever.
- Must not approach office in additional district and a maximum of 2 further offices in the same state
WHAT KIND OF DEPOSITS A NIDHI CAN ACCEPT?
A NIDHI can take following type of deposits
- Fixed Deposit
- Recurring Deposit
- Saving Deposit
Rate of interest on these deposits shall not exceed rate of immersion prescribed by RBI for NBFC companies.
A company shall preserve not less that 10% of the total deposits in the form of unencumbered term deposit, in the form of Fixed Deposit at any Nationalized Bank or Post Office.
LOAN
A Nishi can lend maintenance in the form of expansion only to its members, loans may be against:
- Immovable Property
- Fixed Deposits
- Gold, etc.
Rate of raptness charged upon loan shall not in any stroke exceed 7.5% of the highest rate of interest provided by Nidhi upon Deposits.
Rate of Interest on Loan shall be calculated by using reducing inclusion method.
MEMBERS
Conditions for link of a NIDHI Company:
- Member must be an Individual and an Indian Citizen.
- He must subscribe to at least portion worth Rs.100/- of the NIDHI Company
- He must follow the terms and conditions as stipulated in his connection agreement.
Documents/Information Required for Incorporating a NIDHI Company
Members (Minimum 7)
- A copy of PAN
- A copy of Voter ID or Driving License or Aadhar Card
- Up to date bank passbook or bank verification or utility checking account in the proclaim of members
- 2 Passport size photograph
- Mobile Number and E mail Id
- For Registered Office
A copy of Electricity Bill or A copy of Gas relation and Gas Passbook
- Company Name (minimum 4)
The Name of the company ends afterward the word NIDHI LIMITED