As a part of the Companies ACT 2013, a Nidhi Registered company is a non banking finance sector company. A Nidhi Company is put for the benefit of the members. The soul of the Nidhi Company function is to borrow and lend money between the members. A Nidhi registered company can also be called as a Mutual fund, Beneficial fund and Permanent fund company. Being a finance based company, it has lot of documents to deal with regarding the lending and how the funds were allocated to stay legal. As they are under the control of the central government they have to be producing the statements in correct time frame. Nidhi falls under the Non Bank Financial Company (NBFC) where the rules are governed by Reserve Bank of India (RBI), as a result of this RBI has the power to direct how the company accepts the deposit and as such.However, since Nidhis deal with their shareholder-members only, RBI has exempted such notified firms from the core provisions of the RBI Act and other directions applicable to NBFCs.It should contain Nidhi Limited in its name. The term Nidhi on its own means treasure, with that concept here the establishment is done with the goal to induce mutual benefit without the single person point of view present. At Unilex Consultants we provide you a hassle free compliance process which would be dealt by our professionals within a short time frame and is subjective to governmental processing time. Our team takes care of the documentation and aids in provide you the realistic estimation of cost.
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