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Nidhi Company

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Nidhi Company basic business of such a company is to facilitate lending money between the core members of the company. Examples of a Nidhi Company are permanent funds, mutual benefit funds, a mutual benefit company and benefit funds. The main concept behind developing a Nidhi Company is to obtain cash deposit from associates or contribute to them, for the common gain of the two parties. All lending and acquiring must agree with the decree stated in chapter XXIV of Company Rules, 2014.

SERVICE INCLUDES

  • Name Application Through RUN (Reserve Unique Name)
  • DIN No Application
  • PAN & TAN
  • Drafting MOA & AOA
  • Incorporation Through Spice Forms
  • Bank A/c Opening Guidance
  • Certificate of Commencement of Business

DOCUMENTS REQUIRED

  • Passport size photos of directors
  • Address proof of directors ( Any one of electricity bill or bank statement or landline bill or mobile bill )
  • Photo ID proof of directors ( Any one of Voter ID or Passport or Driver License )
  • Specimen signature
  • Self declaration about your directorship in other companies
  • Rent agreement of your registered office
  • No objection certificate from the owner
  • Aadhaar card of directors
  • PAN card of Directors

Process

5 Simple & Easy steps to work with us.



1

Fill Form

Fill the Request a Call Back form from the Service Page you want to avail

2

Talk to Expert

After Filing the form you will get a Free Expert Consultation for your Idea

3

Plan Purchase

Purchase the Plan after the Consultation from the TaxWix Experts.

4

Upload Documents

Upload All Basic Documents to Work on the case.

5

Completion

After Processing Our Taxwix Will Complete your Registration Process.

FAQ

The financial dealings and all the registration processes of a Nidhi company are regulated by the Ministry of Corporate Affairs. The deposit acceptance activities conducted by the Nidhi Company also come under the scanner of Reserve Bank of India and the latter has the rights to look into the financial dealings. Nidhi companies are only allowed deposits which are over six months and less than five years old.
A Nidhi Company must accumulate 200 members within a year of its formation.If it fails to do so, it needs to apply for permission to extend the time limit to acquire more members. Three of its members will be appointed as directors and there must be seven stockholders on inception.


A Nidhi Company must have an equity share capital of Rs. 5 lakh on inception. This entire amount must be paid-up. Moreover, 10% of the total deposit collected from members must be in a fixed deposit in a nationalized bank.
You need to appoint a minimum of three directors and have seven shareholders. So, a total of 10 individuals are needed to form a Nidhi. You need to register the company as a limited company under Companies Act, 2013. Nidhi Companies take almost a month or even longer to register
Yes, you can expand operations.A minimum of three branches can be opened in a particular district. In case you want to expand outside the district or want to open more than three branches, intimation needs to be issued 30 days prior to opening to the Registrar of Companies.
The conditions laid down by the Act says that a Nidhi company should acquire a minimum of 200 members within one year. However, in case you have not been able to acquire the required numbers, you can apply for an extension with the authorities.
No, only the members are allowed to deposit, borrow or lend funds.
Any person can deposit, lend or borrow money through the provisions provided by Companies Act, 2013. They can all become members of the Nidhi provided they are not a corporation or a company.
A Nidhi can accept deposits not exceeding 20 times of its net owned assets as mentioned in the last audited statements.
No, you will not have to be present at our office or appear at any office for the registration of a Nidhi Company. All the documents can be scanned and sent through email to our office. Some documents will also have to be couriered to our office.

Author: Taxwix

Taxwix – Making Your Idea Happen Taxwix.com has a team of experts like, CA, CS and Lawyers etc having the great dominance in field of the Corporate Compliance along with Advisory,Taxation and Finance. Taxwix team guides the Startups with their Idea and help help them to take ahead in the Legal Manner, helps in proper managing the business with accurate and timely Compliance. Taxwix has as simple 5 Step process to be followed to complete compliance