If you want to start your business of finance and give financial assistance to your member the only best option is to run business under the name of Nidhi Company.
From ₹ 15999 /- all inclusive fees
EMI: ₹1599 for 12 months*
Nidhi Company is a very old concept which allows a company to accept deposit from members and provide loans to its other members and charge some interest form members in the form of nosiness. It generally follows the principle of mutual benefit or mutual assistance that fund should be raised from members and it should be utilized to provide loan to other members
1) Nidhi Company is regulated by two authorities one is Ministry of company affairs and the other one is RBI, who regulate and watch dog of financial activity perused by the Nidhi company.
2) A Nidhi company can give loan to its members for minimum period of 6 months and maximum 5 years.
3) There are minimum seven members required for forming Nidhi Company, but Nidhi Company should accumulate 200 members in one year after its formation if he fails to do, then RBI can grant extension of time to raise the member up to 200.
4) The minimum capital required for forming Nidhi Company is 5 lakhs and apart from this they also deposit 10 % of its total deposit from members in nationalized bank as a security.
Owing to their non-dealing with the funds of any person other than their members, the regulations imposed upon the Nidhi’s by RBI is limited. These companies follow the Nidhi Rules, 2014 issued by the center in respect of the activities and workings of Nidhi Companies.
The Ministry of Corporate Affairs has done away with the minimum capital requirement of INR 5 Lakhs for Nidhis. It is only after Nidhi Rules, 2014, that mandated the infusion of INR 10 lakhs for such companies.
Unlike other NBFCs, Nidhis don’t have to obtain a license from RBI. They just have to incorporate themselves as a public company with the MCA, infuse the required amount of capital as per Nidhi Rules, 2014 and they are all set to go.
The loans given to the members are at a lower rate of interest than the market rate. This brings greater savings to the members.
The Nidhi companies are formed by, managed by, and provide benefits to their members only. The outsider is not allowed to intervene in the working of the Nidhis, neither allowed to deposit money or avail credit from these companies.
Individual PAN card of all directors and shareholders are required for registration. In company separate PAN card will applied by us at the time of Company registration.
For Company registration we need Adhaar card of all directors and shareholders.
One documents from the option is required (Voter ID/ Driving licence/ Passport)
One document from the option is required (Bank statement/ updated bank passbook/ Utility bill )
Any utility bill like electricity bill or water tax bill is required, in case property is rented in than rent agreement with owner is required.
Nidhi company registration including 7 DSC and 3 DIN, 1 name approval, PAN and TAN, support up to bank account opening , includes all government fees and stamp duty
Nidhi company registration including 7 DSC and 7 DIN, 1 name approval, PAN and TAN, support up to bank account opening , includes all government fees and stamp duty and share allotments
Nidhi company registration including 7 DSC and 7 DIN, 1 name approval, PAN and TAN, support up to bank account opening , includes all government fees and stamp duty and share allotment for 200 shareholders, Trademark application
Ovakil helps you for registering Company business,it usually take 25-30 days for all process
Any Doubts? Get a Callback from Ovakil Legal Panel.
We will provide company incorporation certificate after all process, this certificate is important for every company and required as a proof of company registration.
Every director needs digital signature and director identification number (DIN) for company registration, we will provide all DSC and DIN
Permanent account number (PAN) and Tax allocation number (TAN) will be provide by us in this registration.
Memorandum of association (MOA) and Article of association (AOA) will prepared after understanding your business needs.