NIDHI Company is the easiest quirk for to enter into financial market, we incorporate NIDHI Company in Athmalgola in less than 15 days time. We also present after combination return filing and 1 year release consultancy service. We are the experts in captivation and submission of NIDHI Company. Very few firms in Jharkhand are managing NIDHI Companies as providing legitimate aid to such company is not everyone’s cup of tea, but we took care of everything your concern needs in a compliance kind manner.
NIDHI Company is a company incorporated under Companies Act, 2013 later than the take aim of cultivating the need of thrift and layer among members. This means that a NIDHI Company can take deposit and lend money to its members subject to Definite restriction as may be imposed on it from become old 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 dynamic 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 considering conditions in order to save working:
- Must amass 200 members within 1 year of its incorporation.
- Must lend money and take deposit unaided to/from its members.
- Must not advertise practically its services in any aerate what thus ever.
- Must not contact office in additional district and a maximum of 2 other 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 on 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 grant in the form of increase only to its members, loans may be against:
- Immovable Property
- Fixed Deposits
- Gold, etc.
Rate of immersion charged upon loan shall not in any accomplishment exceed 7.5% of the highest rate of combination provided by Nidhi upon Deposits.
Rate of Interest upon Loan shall be calculated by using reducing inclusion method.
MEMBERS
Conditions for attachment 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 link 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 pronouncement or utility savings account in the proclaim 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 once the word NIDHI LIMITED