NIDHI Company is the easiest pretentiousness for to enter into financial market, we incorporate NIDHI Company in Budhha Colony in less than 15 days time. We also find the grant for after assimilation return filing and 1 year pardon consultancy service. We are the experts in incorporation and assent 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 everything your thing needs in a compliance kind manner.
NIDHI Company is a company incorporated under Companies Act, 2013 past the point toward of cultivating the craving of thrift and accumulation among members. This means that a NIDHI Company can accept deposit and lend money to its members subject to certain 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 effective 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 subsequently conditions in order to keep working:
- Must mount up 200 members within 1 year of its incorporation.
- Must lend grant and take deposit on your own to/from its members.
- Must not advertise virtually its facilities in any reveal what therefore ever.
- Must not admittance office in other district and a maximum of 2 further offices in the thesame 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 assimilation 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 maintenance in the form of development only to its members, loans may be against:
- Immovable Property
- Fixed Deposits
- Gold, etc.
Rate of raptness charged upon loan shall not in any proceedings exceed 7.5% of the highest rate of incorporation provided by Nidhi upon Deposits.
Rate of Interest upon Loan shall be calculated by using reducing interest method.
MEMBERS
Conditions for association of a NIDHI Company:
- Member must be an Individual and an Indian Citizen.
- He must subscribe to at least portion worth Rs.100/- of the NIDHI Company
- He must follow the terms and conditions as stipulated in his membership 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 declaration or utility story in the broadcast 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 balance and Gas Passbook
- Company Name (minimum 4)
The Name of the company ends bearing in mind the word NIDHI LIMITED