NIDHI Company is the easiest mannerism for to enter into financial market, we incorporate NIDHI Company in Giridih in less than 15 days time. We also pay for after engagement return filing and 1 year pardon consultancy service. We are the experts in engagement and agreement of NIDHI Company. Very few firms in Jharkhand are managing NIDHI Companies as providing true aid to such company is not everyone’s mug of tea, but we took care of whatever your concern needs in a compliance kind manner.
NIDHI Company is a company incorporated under Companies Act, 2013 taking into consideration the aspire of cultivating the need of thrift and mass among members. This means that a NIDHI Company can accept deposit and lend maintenance to its members subject to certain restriction as may be imposed on it from mature 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 life 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 accumulate 200 members within 1 year of its incorporation.
- Must lend child support and accept deposit by yourself to/from its members.
- Must not advertise not quite its facilities in any way of being what thus ever.
- Must not read office in additional district and a maximum of 2 supplementary 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 upon these deposits shall not exceed rate of concentration 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 child support in the form of forward movement only to its members, loans may be against:
- Immovable Property
- Fixed Deposits
- Gold, etc.
Rate of engagement charged on loan shall not in any act exceed 7.5% of the highest rate of engagement provided by Nidhi on Deposits.
Rate of Interest on Loan shall be calculated by using reducing raptness method.
MEMBERS
Conditions for membership of a NIDHI Company:
- Member must be an Individual and an Indian Citizen.
- He must subscribe to at least ration 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 confirmation or utility relation in the publish 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 tab and Gas Passbook
- Company Name (minimum 4)
The Name of the company ends considering the word NIDHI LIMITED