Belonging to the classification of non-banking small business firms and identified under Section 406 of the Businesses Act, 2013, it’s governed by the central authorities. The simple business of such a business is to ease lending cash involving the core members of the provider. The principal concept behind creating a Nidhi Company would be to acquire cash deposit from partners or donate to them, such as the frequent advantage of the 2 parties. All lending and obtaining must concur with the decree mentioned in chapter XXIV of Business Requirements, 2014.

Nidhi organization is a category of NBFCs and RBI is empowered to issue instructions to them in issues regarding their deposit approval activities. Nonetheless, in recognition of how those Nidhis cope with their shareholder-members just, RBI has exempted the advised Nidhis in the core terms of the RBI Act and other instructions related to NBFCs. Thus, Nidhi Company is the perfect thing to choose deposit from and contribute to a particular group of individuals.

Documents Required for Nidhi Company Registration

TO BE SUBMITTED BY ALL DIRECTORS

Self-attested copy of PAN Card, Self-attested copy of Driver’s License/ Voter ID/ Aadhaar Card/Passport Self-attested Replica of Bank Statement/ Telephone Bill/Mobile Bill/ Electricity Bill Passport-size Photograph Specimen Signature Certificate.

 

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Duration: 7 Working Days

Partners:  Min 7

Requirements: Partners-(Aadhar, Pan Card, Photo, Bank statement, Email and Mobile number ), Place of business ( Rental agreement,NOC and Electricity bill)

Pricing: Starting from 34499/-

Basic

₹50000

₹34499/-

  • 8 Digital Signatures (DSC) - Class 2*
  • 3 Designated Identification Number (DIN)
  • Name Approval*
  • Upto 10 Lakhs Authorized Capital *
  • Incorporation Fee
  • Stamp Duty *
  • Incorporation Certificate
  • PAN & TAN
  • Hard-copy Share Certificates
  • GST Registration
  • MSME/Udyog Aadhar
  • Account Opening*
  • Share Allotment for upto 200 shareholders
  • Trademark Registration
Professional

₹70000

₹49499/-

  • 8 Digital Signatures (DSC) - Class 2*
  • 3 Designated Identification Number (DIN)
  • Name Approval*
  • Upto 10 Lakhs Authorized Capital *
  • Incorporation Fee
  • Stamp Duty *
  • Incorporation Certificate
  • PAN & TAN
  • Hard-copy Share Certificates
  • GST Registration
  • MSME/Udyog Aadhar
  • Account Opening*
  • Share Allotment for upto 200 shareholders
  • Trademark Registration
Premium

₹80000

₹60499/-

  • 8 Digital Signatures (DSC) - Class 2*
  • 3 Designated Identification Number (DIN)
  • Name Approval*
  • Upto 10 Lakhs Authorized Capital *
  • Incorporation Fee
  • Stamp Duty *
  • Incorporation Certificate
  • PAN & TAN
  • Hard-copy Share Certificates
  • GST Registration
  • MSME/Udyog Aadhar
  • Account Opening*
  • Share Allotment for upto 200 shareholders
  • Trademark Registration
  1. Class 2 Digital Signatures (DSC) comes  with two year legitimacy on protected USB token. 
  2. Upto 4 company names choices can be provided in name consent request. 
  3. Authorised capital is the number of shares a corporation may issue at anytime and could be increased further in the long run.  Paid-up funding is the total spent by shareholder and may be Rs.2.  
  4. Rs.5510 is going to be the extra stamp duty charges for state of Rajasthan.  In the event of incorporation in Madhya Pradesh, an extra postage responsibility of Rs.7550 will be more applicable.  In the event of incorporation in Punjab, an extra postage responsibility of Rs.15025 will be more applicable.  In the event of Kerala, an extra postage responsibility of Rs.3025 will be Applicable. 
  5. GST registration support will be applicable when required. 
  6. An extra charge of Rs.10,000 will be applicable for incorporation of a business with overseas/foreign directors. 
  7. Auditor fee is applicable on actuals directly to the Independent Auditor appointed by the Board of Directors. Kanoons will only be responsible for accounting, preparation of financial statements and filing of returns on behalf of the Company.
  8. Account Opening We only aid you in opening Current Account in one of our affiliated bank.  

FAQ

Basics of a Nidhi Company Regulated by MCA & RBI?

The fiscal dealings and all of the enrollment procedures of a Nidhi company are governed by the Ministry of Corporate Affairs. The deposit approval activities performed by the Nidhi Company also come under the scanner of Reserve Bank of India and the latter gets the rights to start looking into the financial transactions. Nidhi businesses are only permitted deposits that are over half a year and less than five years of age.

 

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Number of Members in a Nidhi Company?

A Nidhi Company must collect 200 members within a year of its own formation. If it fails to do so, it ought to apply for consent to extend the time limitation to obtain more visitors. Three of its members will be appointed as directors and there should be seven stockholders on beginning.

Equity Capital for a Nidhi Company?

A Nidhi Company should have an equity share capital of Rs. 5 lakh on beginning. This whole amount has to be paid-up. Additionally, 10% of their entire deposit gathered from members have to maintain a fixed deposit in a nationalised bank.

 

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Advantages of Nidhi Company?

Cheaper to Borrow

Consequently, an individual could borrow money at a minimum rate, relative to the speed at which banks lend money. This may be a significant benefit in times of demand, as distinct folks in the mutual benefit society are more very likely to require funds at different points in time.

Encourages Savings

It encourages all of its members to spend less and promotes a thrifty lifestyle. A Nidhi firm, after all, is a mutual benefit society wherein members may borrow or lend money and take financial help amongst them.

Fewer Complications
Borrowing and lending to known persons, in which the process is fixed, is not as complex than dealing with banks or at a casual setting. A Nidhi Company empowers its members to uncover the capacity of the cash and profit from reduced interest rates whenever they require cash.

 

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How can I start a Nidhi company and the time period it takes to register for one?

You have to appoint no less than 3 directors and also have seven shareholders. Therefore, a total of 10 people are essential to produce a Nidhi. You have to register the business as a limited company under Companies Act, 2013. Nidhi Companies take nearly a month or even more time to enroll.

 

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How can I expand the operations of my Nidhi Company to different areas?

It’s true, it is possible to enlarge operations. A minimum of 3 branches could be opened in a specific district. In the event that you wish to expand away from the district or wish to start over three branches, then intimation has to be issued 30 days before opening to the Registrar of Companies.

Should I dissolve my Nidhi Company because it has not gained the necessary numbers of representatives now that it has successfully completed one full year of tenure?

The terms laid down by the Act states a Nidhi company should get no less than 200 members within a year. Nonetheless, in the event you have never been able to obtain the essential amounts, you may apply for an extension with the government.

In a Nidhi company, will any member be allowed to credit and debit cash to the general fund?

No, only the members are allowed to deposit, borrow or lend funds.

What are the criteria to become a representative of a Nidhi Company?

Any individual can deposit, borrow or lend money through the terms supplied by Businesses Act, 2013. They could all become members of their Nidhi provided they aren’t a company or a provider.

In a Nidhi, what should be the set limited expectation for representatives for cash deposits?

A Nidhi can take deposits not exceeding 20 times of its net owned assets as stated in the last audited statements.

Procedure for Nidhi Company Registration

8 BUSINESS DAYS
A minimum of 3 directors must make an application for a DSC, which is critical to submit the Nidhi business registration files. Because of this, you may just have to supply a few scanned files and information; our agents will fill out the form and then submit it on line.

14 BUSINESS DAYS
The moment we employ to your DSC, we’ll make an application to your company name. And submit the remaining part of the incorporation documents. Altogether, this may take as much as a week, based on if you have all of the files in order.