NIDHI Company is the easiest exaggeration for to enter into financial market, we incorporate NIDHI Company in Sigaudi in less than 15 days time. We also provide after captivation return filing and 1 year clear consultancy service. We are the experts in assimilation and assent of NIDHI Company. Very few firms in Jharkhand are managing NIDHI Companies as providing valid aid to such company is not everyone’s mug of tea, but we took care of all your event needs in a compliance friendly manner.
NIDHI Company is a company incorporated under Companies Act, 2013 in imitation of the point of cultivating the compulsion of thrift and layer among members. This means that a NIDHI Company can take deposit and lend money to its members subject to determined restriction as may be imposed on it from mature 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 energetic 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 when conditions in order to keep working:
- Must ensue 200 members within 1 year of its incorporation.
- Must lend child support and accept deposit without help to/from its members.
- Must not advertise very nearly its services in any reveal what so ever.
- Must not retrieve office in extra 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 incorporation 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 enhance only to its members, loans may be against:
- Immovable Property
- Fixed Deposits
- Gold, etc.
Rate of concentration charged on loan shall not in any lawsuit exceed 7.5% of the highest rate of amalgamation provided by Nidhi on Deposits.
Rate of Interest on Loan shall be calculated by using reducing concentration method.
MEMBERS
Conditions for membership of a NIDHI Company:
- Member must be an Individual and an Indian Citizen.
- He must subscribe to at least allowance worth Rs.100/- of the NIDHI Company
- He must follow the terms and conditions as stipulated in his relationship 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 confirmation or utility report in the reveal 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 version and Gas Passbook
- Company Name (minimum 4)
The Name of the company ends later the word NIDHI LIMITED