NIDHI Company is the easiest habit for to enter into financial market, we incorporate NIDHI Company in Garhwa in less than 15 days time. We also allow after assimilation return filing and 1 year free consultancy service. We are the experts in combination and submission of NIDHI Company. Very few firms in Jharkhand are managing NIDHI Companies as providing authenticated aid to such company is not everyone’s cup of tea, but we took care of anything your concern needs in a compliance kind manner.
NIDHI Company is a company incorporated under Companies Act, 2013 in the circulate of the purpose of cultivating the obsession of thrift and increase among members. This means that a NIDHI Company can take deposit and lend keep to its members subject to clear 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 following conditions in order to keep working:
- Must accumulate 200 members within 1 year of its incorporation.
- Must lend grant and accept deposit lonely to/from its members.
- Must not advertise very nearly its services in any look what correspondingly ever.
- Must not retrieve office in extra district and a maximum of 2 additional 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 on these deposits shall not exceed rate of fascination 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 spread only to its members, loans may be against:
- Immovable Property
- Fixed Deposits
- Gold, etc.
Rate of incorporation charged on loan shall not in any case exceed 7.5% of the highest rate of combination provided by Nidhi on Deposits.
Rate of Interest on Loan shall be calculated by using reducing combination method.
MEMBERS
Conditions for relationship 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 name 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 credit and Gas Passbook
- Company Name (minimum 4)
The Name of the company ends taking into consideration the word NIDHI LIMITED