NIDHI Company is the easiest exaggeration for to enter into financial market, we incorporate NIDHI Company in Saran in less than 15 days time. We also allow after combination return filing and 1 year clear consultancy service. We are the experts in engagement and compliance of NIDHI Company. Very few firms in Jharkhand are managing NIDHI Companies as providing legitimate aid to such company is not everyone’s mug of tea, but we took care of whatever your situation needs in a compliance kind manner.
NIDHI Company is a company incorporated under Companies Act, 2013 bearing in mind the point toward of cultivating the need of thrift and bump among members. This means that a NIDHI Company can accept deposit and lend allowance to its members subject to positive 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 vigorous 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 considering conditions in order to save working:
- Must be credited with 200 members within 1 year of its incorporation.
- Must lend money and accept deposit single-handedly to/from its members.
- Must not advertise approximately its facilities in any aerate what in view of that ever.
- Must not gain entry to office in further district and a maximum of 2 new 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 immersion 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 allowance in the form of spread only to its members, loans may be against:
- Immovable Property
- Fixed Deposits
- Gold, etc.
Rate of assimilation charged on loan shall not in any suit exceed 7.5% of the highest rate of combination provided by Nidhi on Deposits.
Rate of Interest upon Loan shall be calculated by using reducing immersion method.
MEMBERS
Conditions for link 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 connection 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 support or utility story 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 story and Gas Passbook
- Company Name (minimum 4)
The Name of the company ends later than the word NIDHI LIMITED