NIDHI Company is the easiest quirk for to enter into financial market, we incorporate NIDHI Company in Hathidah in less than 15 days time. We also pay for after amalgamation return filing and 1 year release consultancy service. We are the experts in immersion and assent of NIDHI Company. Very few firms in Jharkhand are managing NIDHI Companies as providing legal aid to such company is not everyone’s mug of tea, but we took care of everything your matter needs in a compliance kind manner.
NIDHI Company is a company incorporated under Companies Act, 2013 taking into account the goal of cultivating the habit of thrift and deposit among members. This means that a NIDHI Company can accept deposit and lend child support to its members subject to distinct 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 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 like conditions in order to save working:
- Must go to 200 members within 1 year of its incorporation.
- Must lend money and accept deposit solitary to/from its members.
- Must not advertise not quite its facilities in any sky what correspondingly ever.
- Must not entrйe office in supplementary district and a maximum of 2 extra offices in the similar 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 captivation 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 child support in the form of press forward only to its members, loans may be against:
- Immovable Property
- Fixed Deposits
- Gold, etc.
Rate of amalgamation charged upon loan shall not in any proceedings exceed 7.5% of the highest rate of immersion provided by Nidhi on Deposits.
Rate of Interest on Loan shall be calculated by using reducing assimilation method.
MEMBERS
Conditions for attachment 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 relationship 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 upholding or utility credit in the pronounce 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 explanation and Gas Passbook
- Company Name (minimum 4)
The Name of the company ends later than the word NIDHI LIMITED