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Nidhi Company Registration

Nidhi Company Registration in India

-Suitable for lending and deposits from its members
- Work handled by professionals
- No Hidden Charges
- Completely online process
- Get your Nidhi Company Registration @ just Rs 14,000/-

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What is a Nidhi Company Registration in India?

inner choose imgAs a part of the Companies ACT 2013, a Nidhi Registered company is a non banking finance sector company. A Nidhi Company Registration in India is put for the benefit of the members. The soul of the Nidhi Company Registration 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. 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 Nidhi 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.

Presently law revised on 2014 governs the Nidhi Company Registration Online rules, they are incorporated in the Public Registered Company. There is no need to clear any approval from RBI in order to incorporate a Registration of Nidhi Company, as RBI has specifically exempted this category of NBFC in India to comply its core provisions such as registration with RBI.

The concept of Money lending and borrowing between the members of an incorporation dedicated to this purpose solely, but not with the same set of rules and standardization. The process was conceptualized to inculcate the habit of savings and self reliance.

At Unilex Consultants we provide you a hassle free registration process which would be dealt by our professionals within a time frame of 10 days and is subjective to governmental processing time. Our team takes care of the documentation and aids in provide you the realistic estimation of cost.

Table of Content

One Person Company Compliances

Advantages of Nidhi Company Registration Online

Advantages Nidhi Company Registration 1

  1. Better Value – A Nidhi company scores better in terms of credibility as it falls under the central government directly unlike other mutual profit organizations

  2. Exemption in RBI Provisions – The main reason many opt to go with Nidhi Corporation is that as the funding are circulated and dealt with the members alone and there is no outsider involved in the transaction there is no need of any sort of licensing from the end of RBI.

  3. Limited Liability
    A Company is a separate legal entity. Shareholders of any Company have limited liability
  4. Middle Ground
    Private Limited companies provide the best form of business registration with limited liability. It provides feasibility of running business with limited liability

  5. Channelizing the Funds – The main point of Nidhi Company is to channelize the deposit funds between the members and help them to be self reliant in terms of savings and other activities.

  6. Perpetual Succession – A Company is a separate legal entity. It exists even after the death of the member incorporated the company.

  7. Business Credibility
    Unlike normal Partnership firms and unregistered entities, company registration gets more recognition as they are regulated by law.

Documentation for Nidhi Company Registration in India

Passport size Photograph

Copy of PAN Card

Copy of Electricity Bill

Sale Deed (if owned)

Copy of Aadhar Card

Address Proof

Copy of rent agreement (if rented)

NOC

OPC Compliance

Our Packages For Nidhi Company Registration

Basic Plan

₨14000/-

₨/

  • Icon 7 Digital Signatures (DSC)
  • Icon 3 Director Identification Number (DIN)
  • Icon Certificate of Incorporation
  • Icon MOA and AOA
  • Icon ROC & Stamp duty
  • Icon EPFO Registration
  • Icon ESIC Registration
  • Icon E-Pan Card of Company
  • Icon TAN or TDS Number
  • Icon Bank A/c Opening Support
Checkout
Popular

Premium Plan

₨17000/-

₨/

  • Icon 7 Digital Signatures (DSC)
  • Icon 3 Director Identification Number(DIN)
  • Icon Certificate of Incorporation
  • Icon MOA and AOA
  • Icon ROC & Stamp duty
  • Icon EPFO Registration
  • Icon ESIC Registration
  • Icon E-Pan Card of Company
  • Icon TAN or TDS Number
  • Icon Bank A/c Opening Support
  • Icon E-Pan Card of Company
  • Icon GST Registration
  • Icon MSME Certificate
  • Icon Trademark Filing
Checkout

Standard Plan

₨15500/-

₨/

  • Icon 7 Digital Signatures (DSC)
  • Icon 3 Director Identification Number (DIN)
  • Icon Certificate of Incorporation
  • Icon MOA and AOA
  • Icon ROC & Stamp duty
  • Icon EPFO Registration
  • Icon ESIC Registration
  • Icon E-Pan Card of Company
  • Icon TAN or TDS Number
  • Icon Bank A/c Opening Support
  • Icon GST Registration
Checkout

Note:-

  1. The above cost varies from state to state as per its stamp duty
  2. Trademark filing excludes government fees.

Process involved in registering a Nidhi Company

  • Step-1: Acquire a Digital Signature Certificate (DSC)
  • Step-2: Director Identification Number (DIN)
  • Step-3: Name Reservation for the Company (SPICe+ Part A)
  • Step-4: Submission of Company Details (SPICe+ Part B)
  • Step-5: Preparation and Submission of Incorporation Forms (SPICe+ MOA and AOA)
  • Certificate of Incorporation
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Requirements for Nidhi Company Registration in India

  • A Nidhi company has to be incorporated as a public company with minimum 3 Directors.
  • It must have a minimum paid up equity share capital of Rs.10,00,000/-
  • Net owned funds to deposit ratio should not be more than 1:20
  • The name must have Nidhi Limited.
  • Minimum members at the end of first year must be not less than 200.
  • Company should keep at least 10% in the fixed deposit in any scheduled commercial bank.

Comparison of different types of entities

Sl. No. Particulars Private Limited One Person LLP
1
Eligibility
Any individual may form a PLC.
Only a natural person who is an Indian citizen and resident in India, shall be eligible to icorporate an OPC.
Any individual and body corporate may be a partner in LLP.
2
Taxation
Taxed at 30% plus surcharge and cess as applicable.
Taxed at 30% plus surcharge and cess as applicable
Taxed at 30% plus surcharge and cess as applicable.
3
Closure/Dissolution/Winding ups
Can be initiated- Voluntarily, or By the Tribunal
Can be initiated- Voluntarily, or By the Tribunal
Can be initiated- Voluntarily by the partners or By the Tribunal
4
Existence or Survivability
PLC is not dependent on the directors or shareholder. Can be dissolved only voluntarily or by Regulatory Authorities.
Existence of an OPC is not dependent on the Director or Nominee Director. Could be dissolved only voluntarily or by Regulatory Authorities.
LLP can continue its existence irrespective of changes in partners.
5
Credibility
High
Medium
Medium

Why go with Nidhi Company Registration?

Branch Office Registration
  • To promote the habit of Saving and self reliant between the members.
  • When the members have funding to deposit but not as major as banking sector.
  • Have a business model among the members in the non banking sector field.
  • Minimum two shareholders are enough where as in public limited registration a minimum of 7 shareholders are mandatory.
  • No need to disclose the financial reports unlike publicly registered corporations.
  • Various exemptions under provisions of Companies Act, 2013.

Unique Features of Nidhi Company

  • Nidhi is the safest way to raise funds from public as soon as the are enrolled as members of the incorporation.
  • It is a mutual benefit structured approach.
  • It has the benefits of a public registered company
  • There is no individual identification verification done so anyone can be a part of the incorporation

Things a Registration of Nidhi Company should not indulge in

  • Any Nidhi company should not indulge in Chit funds, hire and Leasing finance.
  • Should not allocate any shares in name of any member as a favour.
  • Should not indulge in the process of having the power of other companies based on the securities withhold or manage the business with the control of directors.
  • There must be a minimum of 3 board directors.
  • Should not use any of the property belonging to the members as an safety asset of the incorporation.
  • Should not deviate from the only function of lending and borrowing.
FAQ

Frequently Asked Questions

Only the members base count are allowed to invest in the company and nobody else can be an investor.

It is simple as to begin with in terms of process involved. No need of RBI licensing to start the incorporation. Need at least seven people to get started with. There must be a minimum of 3 board directors. The dealings of finance is limited to the members alone. The rate of interest should be reasonable in nature.

The rules, provisions, and regulations given in the Section 406 of the Companies Act 2013, and in the companies (Nidhi Companies) Rule of 2014, govern and regulate all Nidhi Companies in entire INDIA. Again the activities of Nidhi Companies fall under the ambit of RBI Directives which govern activities of NBFCs and other institutions dealing with financing and investment. RBI offers certain exemptions to the Nidhi Companies based on the fact that these Nidhi Companies deal only with its members, and with no outside people or investors

Once a Nidhi Company is incorporated, it will be active and in existence as long as the annual compliances are met with regularly. A Nidhi Company must have a minimum of 200 shareholders and comply with other criteria within one year of incorporation. In case, annual compliances are not complied with, the Nidhi Company will be asked to refund the deposits.

Yes, a Nidhi Company can take a loan from bank

Yes, it is a type of NBFC, also known as mutual benefit company

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