NIDHI Company is the easiest showing off for to enter into financial market, we incorporate NIDHI Company in Nalanda in less than 15 days time. We also give after combination return filing and 1 year pardon consultancy service. We are the experts in incorporation and consent of NIDHI Company. Very few firms in Jharkhand are managing NIDHI Companies as providing legal aid to such company is not everyone’s mug of tea, but we took care of whatever your concern needs in a compliance friendly manner.
NIDHI Company is a company incorporated under Companies Act, 2013 like the intend of cultivating the compulsion of thrift and accumulation among members. This means that a NIDHI Company can accept deposit and lend child support to its members subject to certain restriction as may be imposed on it from times 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 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 once conditions in order to save working:
- Must ensue 200 members within 1 year of its incorporation.
- Must lend child maintenance and accept deposit unaided to/from its members.
- Must not advertise not quite its facilities in any spread what appropriately ever.
- Must not gate office in new district and a maximum of 2 new 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 engagement 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 momentum only to its members, loans may be against:
- Immovable Property
- Fixed Deposits
- Gold, etc.
Rate of engagement charged upon loan shall not in any suit exceed 7.5% of the highest rate of combination provided by Nidhi upon Deposits.
Rate of Interest on Loan shall be calculated by using reducing combination method.
MEMBERS
Conditions for connection 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 membership 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 verification or utility credit in the reveal 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 explanation and Gas Passbook
- Company Name (minimum 4)
The Name of the company ends past the word NIDHI LIMITED