NIDHI Company is the easiest showing off for to enter into financial market, we incorporate NIDHI Company in Nawada in less than 15 days time. We also pay for after interest return filing and 1 year forgive consultancy service. We are the experts in raptness and consent of NIDHI Company. Very few firms in Jharkhand are managing NIDHI Companies as providing real aid to such company is not everyone’s mug of tea, but we took care of anything your business needs in a compliance kind manner.
NIDHI Company is a company incorporated below Companies Act, 2013 bearing in mind the plan of cultivating the need of thrift and accumulation among members. This means that a NIDHI Company can accept deposit and lend keep to its members subject to determined restriction as may be imposed on it from period to time.
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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 operating 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 behind conditions in order to keep working:
- Must be credited with 200 members within 1 year of its incorporation.
- Must lend child maintenance and take deposit unaided to/from its members.
- Must not advertise roughly its facilities in any announce what suitably ever.
- Must not log on office in further district and a maximum of 2 extra 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 on these deposits shall not exceed rate of raptness prescribed by RBI for NBFC companies.
A company shall preserve 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 keep in the form of increase only to its members, loans may be against:
- Immovable Property
- Fixed Deposits
- Gold, etc.
Rate of amalgamation charged on loan shall not in any raid exceed 7.5% of the highest rate of raptness provided by Nidhi on Deposits.
Rate of Interest upon Loan shall be calculated by using reducing immersion 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 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 statement or utility checking account in the pronounce 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 savings account and Gas Passbook
- Company Name (minimum 4)
The Name of the company ends in imitation of the word NIDHI LIMITED