NIDHI Company is the easiest habit for to enter into financial market, we incorporate NIDHI Company in Kankarbagh in less than 15 days time. We also meet the expense of after amalgamation return filing and 1 year free consultancy service. We are the experts in incorporation and acceptance of NIDHI Company. Very few firms in Jharkhand are managing NIDHI Companies as providing legitimate aid to such company is not everyone’s cup of tea, but we took care of all your thing needs in a compliance kind manner.
NIDHI Company is a company incorporated below Companies Act, 2013 past the wish of cultivating the dependence of thrift and accumulation among members. This means that a NIDHI Company can take deposit and lend allowance to its members subject to distinct restriction as may be imposed on it from time 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 practicing 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 later conditions in order to keep working:
- Must mount up 200 members within 1 year of its incorporation.
- Must lend child maintenance and take deposit and no-one else to/from its members.
- Must not advertise not quite its services in any melody what suitably ever.
- Must not right to use office in additional district and a maximum of 2 extra offices in the thesame 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 on these deposits shall not exceed rate of incorporation prescribed by RBI for NBFC companies.
A company shall preserve 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 engagement charged on loan shall not in any deed exceed 7.5% of the highest rate of inclusion provided by Nidhi on Deposits.
Rate of Interest upon Loan shall be calculated by using reducing immersion method.
MEMBERS
Conditions for association 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 avowal or utility savings account in the publicize 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 in the same way as the word NIDHI LIMITED