NIDHI Company is the easiest habit for to enter into financial market, we incorporate NIDHI Company in Khagaul in less than 15 days time. We also come occurring with the allowance for after amalgamation return filing and 1 year forgive consultancy service. We are the experts in inclusion and acceptance of NIDHI Company. Very few firms in Jharkhand are managing NIDHI Companies as providing authenticated aid to such company is not everyone’s cup of tea, but we took care of anything your business needs in a compliance friendly manner.
NIDHI Company is a company incorporated below Companies Act, 2013 when the want of cultivating the craving of thrift and accrual among members. This means that a NIDHI Company can take deposit and lend allowance to its members subject to determined 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 in action 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 subsequently conditions in order to keep working:
- Must go to 200 members within 1 year of its incorporation.
- Must lend child support and accept deposit without help to/from its members.
- Must not advertise virtually its facilities in any freshen what so ever.
- Must not log on office in further 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 inclusion 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 money in the form of progress only to its members, loans may be against:
- Immovable Property
- Fixed Deposits
- Gold, etc.
Rate of immersion charged upon loan shall not in any proceedings exceed 7.5% of the highest rate of interest provided by Nidhi on Deposits.
Rate of Interest on Loan shall be calculated by using reducing engagement method.
MEMBERS
Conditions for membership 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 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 story 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 tab and Gas Passbook
- Company Name (minimum 4)
The Name of the company ends behind the word NIDHI LIMITED