Here are the easy steps to get our quality services on time.
FILL YOUR ENQUIRY FORM
Fill your enquiry form for the details required.
Complete Your Payment process for your services
SEND YOUR DOCUMENTS
Share documents with our team for the completion of process.
Your service is complete for any other service contact us.
Nidhi company registration is a financial institution or a type of non-banking financial company (NBFC). Nidhi entity is mentioned in Section 406 of the Companies Act, 2013. It is formed to borrow and lend money to its members and inculcates the habit of saving among its members and works on the principle of mutual benefit.
Hence, making it simple and quick to establish the company. Nidhi entity isn’t required to receive the license from the Reserve bank of India (RBI). It is registered as a public company and should have ‘Nidhi Limited’ in the last words of its name.
The following steps of the process are given for the formation of a Nidhi entity:
The first step of the process is to apply for a digital signature certificate (DSC). The DSC facilitates the signatures in digital format. DIN is allotted by the MCA at the time of incorporation in Form SPICe+.
The second step is to apply for name approval by submitting two names either in the RUN (Reserve unique name) or Part-A of the SPICe+ Form on the Ministry of corporate affairs (MCA) website. One can download the Nidhi company registration process pdf from google. The MCA will choose one name from the suggested names by the applicant. The name must be unique and not similar to an existing company. The name approved by the MCA is valid for 20 days.
After the name is approved, the directors must submit the Application for incorporation in Form SPICe+ INC-32 with the Memorandum of association and articles of association. The MOA must include the objects of the Nidhi entity.
After drafting the e-MOA and e-AOA, the applicant is required to fill out the SPICe+ application on the official website of MCA. The Nidhi company registration application is divided into two parts i.e., Part-A for the name reservation and Part-B for Nidhi entity incorporation. The application is filled and signed by any one director of the company and submitted to the ROC with the prescribed documents attached with the same.
The Registrar will issue the Nidhi entity Incorporation after receiving and verifying all the details and documents furnished in it. Once the ROC is satisfied with the details submitted, he shall register Nidhi limited and issue a Certificate of Incorporation as conclusive proof. The ROC also allows the Company Identification Number (CIN) as a unique identity for the company.
After the incorporation process is completed, a company must apply for obtaining the Nidhi entity license. A set of conditions related to the number of members, net funds, term deposits, etc. must be fulfilled as prescribed in the Companies Act, 2013. The application is to be filled in Form NDH-4 to the Central government within four months from the date of incorporation of the Nidhi Limited Company. After submitting all the documents, the government shall grant the Nidhi limited company license and notify in the official gazette.
The directors must apply for a Permanent account number (PAN) and a Tax deduction account number (TAN). It is also required to open a bank account for the company.
The following documents required for Nidhi company list of submissions with the SPICe+ form for the registration of the company is:
Certain requirements are necessary to be fulfilled by a company for getting registered as a Nidhi entity. The requirements are as follows:
The following are mandatory annual compliance mentioned below:
As per the amendment announced by the Central government to Nidhi rules, 2014 for Nidhi company registration in India to safeguard the interest of the public. The rules provide that public companies who desire to function as Nidhi’s must obtain a prior declaration from the Central government before accepting deposits.
The Nidhi entity is subject to several restrictions on its operations that are given below:
The following are various advantages of formation as given below:
Nidhi Limited has a legal entity separate from its promoters and shareholders. It can acquire property and debts in its name.
The incorporation process is quick and easy. It is the same as the registration of a public company with the MCA. The minimum amount of capital required as per Nidhi rules, 2014.
The MCA has made it compulsory to have at least Rs. 10 lakhs to start a Nidhi entity.
The main goal is to raise funds from the members. It is a form of NBFC. It is involved in activities like accepting deposits from the public. The Nidhi Company Registration online is also simple.
The Nidhi Limited company is not required to get approval from the Reserve bank of India. There is no need for a license from RBI for running a loan business in India. There are Nidhi rules under the Companies Act, 2013.
The Ministry of corporate affairs (MCA) manages Nidhi entities. Hence, they are more reliable as compared to different institutions in the same sector controlled by state governments.
A Nidhi entity is mainly formed to increase the savings of the members. These are called mutual benefit companies.
Nidhi company registration fees depend upon the state to state. Although, government fees are the same. The professional fees depend upon the services provided to the applicant.
In addition to registration or incorporation, a business may require other registrations depending on the business activity undertaken. Talk to an Advisor to find out registrations your business may require post registration.
More than 50,000 people use Onlinexbrl every month, and our platform has enabled the completion of thousands of services. We at Onlinexbrl are confident in the excellence of our services and prioritize our customers’ satisfaction with our dedicated services. Our team upgrades their knowledge to ensure the top-notch quality of the services related to registrations, compliance & legal.
Your Expert Assistant Is Here
Frequently Asked Questions