NIDHI Company is the easiest artifice for to enter into financial market, we incorporate NIDHI Company in Main Road Ranchi in less than 15 days time. We also present after incorporation return filing and 1 year release consultancy service. We are the experts in interest and assent of NIDHI Company. Very few firms in Jharkhand are managing NIDHI Companies as providing genuine aid to such company is not everyone’s mug of tea, but we took care of everything your concern needs in a compliance friendly manner.
NIDHI Company is a company incorporated under Companies Act, 2013 later than the intend of cultivating the craving of thrift and increase among members. This means that a NIDHI Company can accept deposit and lend child maintenance to its members subject to clear 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 functional 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 save working:
- Must be credited with 200 members within 1 year of its incorporation.
- Must lend child support and take deposit without help to/from its members.
- Must not advertise practically its services in any tone what consequently ever.
- Must not edit office in additional district and a maximum of 2 new 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 upon these deposits shall not exceed rate of concentration 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 keep in the form of build up only to its members, loans may be against:
- Immovable Property
- Fixed Deposits
- Gold, etc.
Rate of amalgamation charged upon loan shall not in any conflict exceed 7.5% of the highest rate of engagement provided by Nidhi on Deposits.
Rate of Interest on Loan shall be calculated by using reducing incorporation method.
MEMBERS
Conditions for membership 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 association 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 tab in the post 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 credit and Gas Passbook
- Company Name (minimum 4)
The Name of the company ends afterward the word NIDHI LIMITED