NIDHI Company is the easiest pretension for to enter into financial market, we incorporate NIDHI Company in Khelari in less than 15 days time. We also provide after fascination return filing and 1 year clear consultancy service. We are the experts in inclusion and acceptance of NIDHI Company. Very few firms in Jharkhand are managing NIDHI Companies as providing real aid to such company is not everyone’s cup of tea, but we took care of all your business needs in a compliance kind manner.
NIDHI Company is a company incorporated below Companies Act, 2013 past the seek of cultivating the obsession of thrift and growth among members. This means that a NIDHI Company can take deposit and lend money to its members subject to clear 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 working 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 behind conditions in order to save working:
- Must accumulate 200 members within 1 year of its incorporation.
- Must lend maintenance and take deposit isolated to/from its members.
- Must not advertise just about its facilities in any tone what as a result ever.
- Must not admission office in additional district and a maximum of 2 additional offices in the similar 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 upon these deposits shall not exceed rate of fascination prescribed by RBI for NBFC companies.
A company shall preserve 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 grant in the form of expansion only to its members, loans may be against:
- Immovable Property
- Fixed Deposits
- Gold, etc.
Rate of fascination charged upon loan shall not in any suit exceed 7.5% of the highest rate of assimilation provided by Nidhi upon Deposits.
Rate of Interest on Loan shall be calculated by using reducing fascination method.
MEMBERS
Conditions for attachment of a NIDHI Company:
- Member must be an Individual and an Indian Citizen.
- He must subscribe to at least portion 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 statement or utility savings account in the broadcast 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