NIDHI Company is the easiest habit for to enter into financial market, we incorporate NIDHI Company in Danapur in less than 15 days time. We also come happening with the child maintenance for after combination return filing and 1 year release consultancy service. We are the experts in raptness and assent 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 anything your issue needs in a compliance friendly manner.
NIDHI Company is a company incorporated below Companies Act, 2013 considering the purpose of cultivating the habit of thrift and bump among members. This means that a NIDHI Company can accept deposit and lend child support to its members subject to determined 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 keen 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 like conditions in order to keep working:
- Must mount up 200 members within 1 year of its incorporation.
- Must lend child maintenance and take deposit single-handedly to/from its members.
- Must not advertise about its facilities in any tune what hence ever.
- Must not door office in further district and a maximum of 2 supplementary offices in the thesame 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 interest 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 keep in the form of encroachment only to its members, loans may be against:
- Immovable Property
- Fixed Deposits
- Gold, etc.
Rate of fascination charged on loan shall not in any combat exceed 7.5% of the highest rate of concentration provided by Nidhi on Deposits.
Rate of Interest upon Loan shall be calculated by using reducing concentration method.
MEMBERS
Conditions for link of a NIDHI Company:
- Member must be an Individual and an Indian Citizen.
- He must subscribe to at least allocation worth Rs.100/- of the NIDHI Company
- He must follow the terms and conditions as stipulated in his link 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 upholding or utility explanation in the publish 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 checking account and Gas Passbook
- Company Name (minimum 4)
The Name of the company ends in the freshen of the word NIDHI LIMITED