NIDHI Company is the easiest mannerism for to enter into financial market, we incorporate NIDHI Company in Sachivalaya in less than 15 days time. We also offer after concentration return filing and 1 year pardon consultancy service. We are the experts in interest and consent of NIDHI Company. Very few firms in Jharkhand are managing NIDHI Companies as providing genuine aid to such company is not everyone’s cup of tea, but we took care of whatever your thing needs in a compliance kind manner.
NIDHI Company is a company incorporated under Companies Act, 2013 taking into consideration the point toward of cultivating the dependence of thrift and mass among members. This means that a NIDHI Company can accept deposit and lend child maintenance to its members subject to positive 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 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 following conditions in order to keep working:
- Must add 200 members within 1 year of its incorporation.
- Must lend grant and take deposit on your own to/from its members.
- Must not advertise practically its facilities in any song what thus ever.
- Must not open office in new district and a maximum of 2 new 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 upon these deposits shall not exceed rate of captivation 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 early payment only to its members, loans may be against:
- Immovable Property
- Fixed Deposits
- Gold, etc.
Rate of engagement charged upon loan shall not in any deed exceed 7.5% of the highest rate of fascination provided by Nidhi upon Deposits.
Rate of Interest upon Loan shall be calculated by using reducing captivation 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 attachment 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 support or utility relation 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 bill and Gas Passbook
- Company Name (minimum 4)
The Name of the company ends like the word NIDHI LIMITED