NIDHI Company is the easiest habit for to enter into financial market, we incorporate NIDHI Company in East Singhbhum in less than 15 days time. We also offer after raptness return filing and 1 year clear consultancy service. We are the experts in raptness and consent of NIDHI Company. Very few firms in Jharkhand are managing NIDHI Companies as providing valid aid to such company is not everyone’s mug of tea, but we took care of whatever your thing needs in a compliance kind manner.
NIDHI Company is a company incorporated under Companies Act, 2013 taking into account the point toward of cultivating the craving of thrift and mass among members. This means that a NIDHI Company can take deposit and lend keep to its members subject to determined restriction as may be imposed on it from era 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 committed 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 once conditions in order to keep working:
- Must build up 200 members within 1 year of its incorporation.
- Must lend maintenance and accept deposit deserted to/from its members.
- Must not advertise very nearly its facilities in any impression what for that reason ever.
- Must not entrйe office in additional district and a maximum of 2 additional offices in the same 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 interest prescribed by RBI for NBFC companies.
A company shall maintain 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 child support in the form of progress only to its members, loans may be against:
- Immovable Property
- Fixed Deposits
- Gold, etc.
Rate of combination charged on loan shall not in any raid exceed 7.5% of the highest rate of fascination provided by Nidhi on Deposits.
Rate of Interest upon Loan shall be calculated by using reducing concentration method.
MEMBERS
Conditions for relationship of a NIDHI Company:
- Member must be an Individual and an Indian Citizen.
- He must subscribe to at least allocation 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 encouragement or utility report in the make known 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 the word NIDHI LIMITED