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Nidhi Company registration process isn't extremely tough and not take much time to entire procedure. To continue with the idea of company, we like to give brief presentation of Nidhi Company.
Nidhi Company is a organization function as a little bank, So few people in market use to know this organization as a Nidhi Bank. In this organization directors deals with collection of fixed deposit and distribution of loans. We have to comprehend that the Company just work for their own individuals or shareholders not for some other individual or shareholders. In the event that any individual needs to take credit from the Nidhi bank, at that point they must have become member of the organization.
This company adhere to all principles of Nidhi rules 2014 endorsed by the MCA. The procedure of incorporation and other rules can be read in The nidhi rules 2014.
Nidhi Company Registration Process
For Registration, we have to think about numerous realities. So we are going to discuss all facts of Nidhi Company Registration in some simple steps
Stage 1: Collection of Seven individuals
Nidhi Company is the public limited organization and each public limited organization need to have minimum 7 individuals which are otherwise called the investors or promoter of the proposed Company. So we have to arrange 7 individuals for the nidhi bank for the enrollment.
Stage 2: Determine Director
In this company there must be minimum 3 executives directors at the moment of incorporation, so we have to pick any of 3 from the 7 individuals to be a executive director of nidhi company for incorporation.
Stage 3: Name Approval of Nidhi Company
Name reservation is significant in Nidhi company registration process. You can also apply company straight forward without any name reservation, but we suggest you to take name reservation for easy going process of Nidhi company registration.
Stage 4: List of documents for Nidhi company registration
Each individual from the organization need to give the accompanying these essential documents at the time of registration of Nidhi Company.
Stage 5: Digital Signature (DSC)
Digital signature of all 7 proposed promoters need to be created for Nidhi Company registration, these signature looks like a pan drive valid for 2 years. After every 2 year all directors need to re apply for new DSC
Stage 6: Preparation and submission of documents for Nidhi registration
After all above procedure of Nidhi bank registration we have to make some particular documents which we need to submit with MCA, after attaching in the registration forms.
After all above process the Nidhi company registration will complete and department will forward company incorporation certificate, PAN card, TAN, MOA and AOA. All these documents are required for opening bank account in any bank, we suggest to open bank account in any nationalized bank