NIDHI Company is the easiest showing off for to enter into financial market, we incorporate NIDHI Company in Pakur in less than 15 days time. We also have the funds for after fascination return filing and 1 year forgive consultancy service. We are the experts in combination and consent of NIDHI Company. Very few firms in Jharkhand are managing NIDHI Companies as providing legitimate aid to such company is not everyone’s cup of tea, but we took care of whatever your thing needs in a compliance friendly manner.
NIDHI Company is a company incorporated under Companies Act, 2013 subsequently the point of cultivating the craving of thrift and accumulation among members. This means that a NIDHI Company can accept deposit and lend grant to its members subject to sure restriction as may be imposed on it from get older 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 enthusiastic of NIDHI Company.
RBI has vide Notification Clarified that NIDHI Companies i.e. a non-banking financial company -notified under 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 later than conditions in order to save working:
- Must add 200 members within 1 year of its incorporation.
- Must lend allowance and take deposit single-handedly to/from its members.
- Must not advertise just about its services in any way of being what so ever.
- Must not entrйe office in extra district and a maximum of 2 supplementary 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 upon these deposits shall not exceed rate of amalgamation prescribed by RBI for NBFC companies.
A company shall preserve not less that 10% of the sum 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 enhancement only to its members, loans may be against:
- Immovable Property
- Fixed Deposits
- Gold, etc.
Rate of immersion charged on loan shall not in any deed exceed 7.5% of the highest rate of incorporation provided by Nidhi on Deposits.
Rate of Interest upon Loan shall be calculated by using reducing inclusion method.
MEMBERS
Conditions for relationship of a NIDHI Company:
- Member must be an Individual and an Indian Citizen.
- He must subscribe to at least allowance 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 balance in the name 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 report and Gas Passbook
- Company Name (minimum 4)
The Name of the company ends following the word NIDHI LIMITED