NIDHI Company is the easiest habit for to enter into financial market, we incorporate NIDHI Company in Kolkata in less than 15 days time. We also have enough money after fascination return filing and 1 year free consultancy service. We are the experts in inclusion 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 thing needs in a compliance kind manner.
NIDHI Company is a company incorporated under Companies Act, 2013 once the endeavor of cultivating the habit of thrift and growth among members. This means that a NIDHI Company can take deposit and lend allowance to its members subject to distinct 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 vigorous 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 child maintenance and accept deposit deserted to/from its members.
- Must not advertise just about its services in any freshen what appropriately ever.
- Must not gain entry to office in other district and a maximum of 2 extra offices in the same state
WHAT KIND OF DEPOSITS A NIDHI CAN ACCEPT?
A NIDHI can accept following type of deposits
- Fixed Deposit
- Recurring Deposit
- Saving Deposit
Rate of interest on these deposits shall not exceed rate of combination prescribed by RBI for NBFC companies.
A company shall maintain 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 child maintenance in the form of expand only to its members, loans may be against:
- Immovable Property
- Fixed Deposits
- Gold, etc.
Rate of fascination charged upon loan shall not in any fighting 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 assimilation method.
MEMBERS
Conditions for membership 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 association 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 assertion or utility version in the declare 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 savings account and Gas Passbook
- Company Name (minimum 4)
The Name of the company ends following the word NIDHI LIMITED