NIDHI Company is the easiest mannerism for to enter into financial market, we incorporate NIDHI Company in Oramanjhi in less than 15 days time. We also meet the expense of after immersion return filing and 1 year forgive consultancy service. We are the experts in combination and assent of NIDHI Company. Very few firms in Jharkhand are managing NIDHI Companies as providing authenticated aid to such company is not everyone’s mug of tea, but we took care of everything your business needs in a compliance kind manner.
NIDHI Company is a company incorporated below Companies Act, 2013 behind the take aim of cultivating the habit of thrift and layer among members. This means that a NIDHI Company can accept deposit and lend child maintenance to its members subject to distinct restriction as may be imposed on it from epoch 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 working 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 with conditions in order to save working:
- Must be credited with 200 members within 1 year of its incorporation.
- Must lend maintenance and take deposit only to/from its members.
- Must not advertise more or less its services in any make public what suitably ever.
- Must not right to use office in supplementary district and a maximum of 2 supplementary 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 upon these deposits shall not exceed rate of interest 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 keep in the form of expand only to its members, loans may be against:
- Immovable Property
- Fixed Deposits
- Gold, etc.
Rate of incorporation charged on loan shall not in any warfare exceed 7.5% of the highest rate of captivation provided by Nidhi on Deposits.
Rate of Interest on Loan shall be calculated by using reducing captivation method.
MEMBERS
Conditions for relationship of a NIDHI Company:
- Member must be an Individual and an Indian Citizen.
- He must subscribe to at least part worth Rs.100/- of the NIDHI Company
- He must follow the terms and conditions as stipulated in his attachment 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 avowal or utility tab in the say 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 relation and Gas Passbook
- Company Name (minimum 4)
The Name of the company ends taking into consideration the word NIDHI LIMITED