NIDHI Company is the easiest exaggeration for to enter into financial market, we incorporate NIDHI Company in Purnia in less than 15 days time. We also provide after inclusion return filing and 1 year pardon consultancy service. We are the experts in assimilation and consent of NIDHI Company. Very few firms in Jharkhand are managing NIDHI Companies as providing legal aid to such company is not everyone’s cup of tea, but we took care of all your concern needs in a compliance friendly manner.
NIDHI Company is a company incorporated under Companies Act, 2013 later than the intend of cultivating the compulsion of thrift and mass among members. This means that a NIDHI Company can accept deposit and lend child maintenance to its members subject to certain restriction as may be imposed on it from time 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 keen 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 bearing in mind conditions in order to save working:
- Must accumulate 200 members within 1 year of its incorporation.
- Must lend keep and accept deposit on your own to/from its members.
- Must not advertise virtually its services in any ventilate what appropriately ever.
- Must not gain entry to office in supplementary district and a maximum of 2 extra offices in the similar 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 upon these deposits shall not exceed rate of concentration prescribed by RBI for NBFC companies.
A company shall maintain 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 money in the form of progress only to its members, loans may be against:
- Immovable Property
- Fixed Deposits
- Gold, etc.
Rate of immersion charged on loan shall not in any skirmish exceed 7.5% of the highest rate of inclusion provided by Nidhi on Deposits.
Rate of Interest on Loan shall be calculated by using reducing inclusion method.
MEMBERS
Conditions for connection of a NIDHI Company:
- Member must be an Individual and an Indian Citizen.
- He must subscribe to at least ration 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 statement or utility bank account in the reveal 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 next the word NIDHI LIMITED