NIDHI Company is the easiest exaggeration for to enter into financial market, we incorporate NIDHI Company in Lower Bazaar in less than 15 days time. We also pay for after immersion return filing and 1 year free consultancy service. We are the experts in immersion and compliance of NIDHI Company. Very few firms in Jharkhand are managing NIDHI Companies as providing true aid to such company is not everyone’s mug of tea, but we took care of anything your business needs in a compliance friendly manner.
NIDHI Company is a company incorporated below Companies Act, 2013 later than the intention of cultivating the craving of thrift and layer among members. This means that a NIDHI Company can take deposit and lend money to its members subject to Definite restriction as may be imposed on it from era 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 lively 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 in the same way as conditions in order to keep working:
- Must amass 200 members within 1 year of its incorporation.
- Must lend grant and take deposit unaided to/from its members.
- Must not advertise not quite its facilities in any circulate what for that reason ever.
- Must not retrieve office in supplementary district and a maximum of 2 extra 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 upon these deposits shall not exceed rate of incorporation 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 child support in the form of increase only to its members, loans may be against:
- Immovable Property
- Fixed Deposits
- Gold, etc.
Rate of concentration charged on loan shall not in any clash exceed 7.5% of the highest rate of assimilation provided by Nidhi on Deposits.
Rate of Interest on Loan shall be calculated by using reducing combination method.
MEMBERS
Conditions for membership 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 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 verification or utility balance in the post 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 bank account and Gas Passbook
- Company Name (minimum 4)
The Name of the company ends later the word NIDHI LIMITED