NIDHI Company is the easiest pretension for to enter into financial market, we incorporate NIDHI Company in Chiraiyatand in less than 15 days time. We also pay for after captivation return filing and 1 year pardon consultancy service. We are the experts in immersion and acceptance 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 whatever your concern needs in a compliance kind manner.
NIDHI Company is a company incorporated below Companies Act, 2013 when the object of cultivating the habit of thrift and increase among members. This means that a NIDHI Company can take 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 on the go 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 next conditions in order to keep working:
- Must add 200 members within 1 year of its incorporation.
- Must lend child maintenance and accept deposit lonely to/from its members.
- Must not advertise nearly its services in any appearance what fittingly ever.
- Must not right of entry office in additional district and a maximum of 2 new offices in the same 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 combination 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 grant in the form of develop only to its members, loans may be against:
- Immovable Property
- Fixed Deposits
- Gold, etc.
Rate of amalgamation charged on loan shall not in any proceedings exceed 7.5% of the highest rate of immersion provided by Nidhi on Deposits.
Rate of Interest upon Loan shall be calculated by using reducing engagement 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 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 avowal or utility bill in the state 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 later than the word NIDHI LIMITED