NIDHI Company is the easiest mannerism for to enter into financial market, we incorporate NIDHI Company in Shahpur in less than 15 days time. We also manage to pay for after amalgamation return filing and 1 year clear consultancy service. We are the experts in engagement and agreement of NIDHI Company. Very few firms in Jharkhand are managing NIDHI Companies as providing true aid to such company is not everyone’s mug of tea, but we took care of anything your event needs in a compliance friendly manner.
NIDHI Company is a company incorporated below Companies Act, 2013 taking into account the aspiration of cultivating the habit of thrift and enlargement among members. This means that a NIDHI Company can accept deposit and lend grant to its members subject to Definite restriction as may be imposed on it from get older 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 energetic 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 when conditions in order to keep working:
- Must accumulate 200 members within 1 year of its incorporation.
- Must lend keep and accept deposit lonesome to/from its members.
- Must not advertise practically its facilities in any declare what therefore ever.
- Must not contact office in supplementary district and a maximum of 2 further offices in the thesame 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 on these deposits shall not exceed rate of incorporation 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 child support in the form of take forward only to its members, loans may be against:
- Immovable Property
- Fixed Deposits
- Gold, etc.
Rate of captivation charged on loan shall not in any charge exceed 7.5% of the highest rate of incorporation provided by Nidhi upon Deposits.
Rate of Interest on Loan shall be calculated by using reducing raptness method.
MEMBERS
Conditions for relationship of a NIDHI Company:
- Member must be an Individual and an Indian Citizen.
- He must subscribe to at least ration 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 declaration or utility bill 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 credit and Gas Passbook
- Company Name (minimum 4)
The Name of the company ends like the word NIDHI LIMITED