NIDHI Company is the easiest way for to enter into financial market, we incorporate NIDHI Company in Begusarai in less than 15 days time. We also allow after immersion return filing and 1 year release consultancy service. We are the experts in concentration and acceptance 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 anything your business needs in a compliance friendly manner.
NIDHI Company is a company incorporated below Companies Act, 2013 gone the want of cultivating the habit of thrift and accumulation among members. This means that a NIDHI Company can accept deposit and lend grant to its members subject to distinct restriction as may be imposed on it from period 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 full of zip 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 as soon as conditions in order to save working:
- Must be credited with 200 members within 1 year of its incorporation.
- Must lend allowance and accept deposit without help to/from its members.
- Must not advertise very nearly its facilities in any look what fittingly ever.
- Must not right to use office in supplementary district and a maximum of 2 supplementary offices in the thesame 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 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 grant in the form of progress only to its members, loans may be against:
- Immovable Property
- Fixed Deposits
- Gold, etc.
Rate of engagement charged upon loan shall not in any dogfight exceed 7.5% of the highest rate of assimilation provided by Nidhi on Deposits.
Rate of Interest on Loan shall be calculated by using reducing fascination method.
MEMBERS
Conditions for membership of a NIDHI Company:
- Member must be an Individual and an Indian Citizen.
- He must subscribe to at least share 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 statement or utility financial credit 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 checking account and Gas Passbook
- Company Name (minimum 4)
The Name of the company ends later the word NIDHI LIMITED