NIDHI Company is the easiest artifice for to enter into financial market, we incorporate NIDHI Company in Dulhin Bazaar in less than 15 days time. We also allow after interest return filing and 1 year forgive consultancy service. We are the experts in fascination and agreement of NIDHI Company. Very few firms in Jharkhand are managing NIDHI Companies as providing valid 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 considering the plan of cultivating the craving of thrift and layer among members. This means that a NIDHI Company can take deposit and lend keep to its members subject to Definite 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 enthusiastic 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 similar to conditions in order to save working:
- Must ensue 200 members within 1 year of its incorporation.
- Must lend allowance and take deposit lonesome to/from its members.
- Must not advertise virtually its facilities in any appearance what suitably ever.
- Must not get into 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 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 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 maintenance in the form of momentum only to its members, loans may be against:
- Immovable Property
- Fixed Deposits
- Gold, etc.
Rate of captivation charged on loan shall not in any lawsuit exceed 7.5% of the highest rate of interest provided by Nidhi upon Deposits.
Rate of Interest on Loan shall be calculated by using reducing captivation method.
MEMBERS
Conditions for membership of a NIDHI Company:
- Member must be an Individual and an Indian Citizen.
- He must subscribe to at least allocation 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 assertion or utility financial credit in the make known 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 bank account and Gas Passbook
- Company Name (minimum 4)
The Name of the company ends subsequently the word NIDHI LIMITED