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Nidhi company

Nidhi Companies are non-banking financial companies. With continuous growth of industries various businesses are in need of investments, hence to facilitate these businesses with easy loans and funds Nidhi limited companies came into existence. Nidhi limited company provides all the solutions to businesses with funds problems and facilitates easy fund availability for its members. Nidhi company allows transactions only between their members which includes taking deposits from its members and lending money to its members. nidhi company does not require any license from RBI to conduct its busine

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Nidhi company

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  1. ALLABOUT NIDHI COMPANY

  2. WhatisNidhiCompany? Anon-bankingfinancefirmwhichis governedbythecentralgovernmentis calledaNidhiCompany. Thebasic functionofaNidhiCompanyisto facilitateeasylendingofmoney betweenthevariouscoremembersof theconcernedcompany. Theconcept ofaNidhiCompanywasintroducedby Section406intheCompaniesActof 2013. Thefundsareeitherborrowed fromapartyorprovidedtootherparty onthebasisofmutualbenefitofboth sides.

  3. BasicRequirementsfor NidhiCompanyRegistration AMinimumof7shareholdersormembersarerequired. AMinimumof3Directorsarerequired. MinimumcapitalRequirementtostartaNidhiCompany isRs5Lakhs. DIN (DirectorIdentificationNumber) forDirector NoPreferenceShareswillbeissued.

  4. Advantagesofa NidhiCompanyRegistration NoExternalInvolvementintheCompany’sManagement. Easytolendmoneytoorraisecapitalorborrowingsfromgroup members. Easytomanage. Lowcapitalrequirement. Relaxationinthenumberofcompliances. Cost-efficientregistration Manyprivilegesandexemptionsareprovidedundertheprovisions oftheCompaniesAct, 2013. TheMinimalinvolvementofRBI.

  5. Characteristicsofa NidhiCompany Promotessmallsavingsamongmiddleandlowermiddleclass. Acceptstermdepositsfortimelyreturns. Easysourceofloantomembersagainstcollateral. Effectivemeansofsavingsandloanswithminimum documentation. Securedmeansofinvestmentduetorigidmembership structure.

  6. DocumentsChecklistfor NidhiCompanyIncorporation ForRegisteredOffice ForDirectorsandShareholders PANCarddetailsoftheMembers PhotographsoftheDirectorsandMembers DigitalSignatureCertificate AadharCardorVoterIDoftheMembers AddressProofoftheDirectors DIN (DirectorIdentificationNumber) ofthe Directors RentAgreementortheLeaseDeedor theSaleDeedoftheplacebeingused asRegisteredOffice, or, AddressProofoftheRegisteredOffice No-ObjectionCertificate (NOC) signed bytheactualownerofthePropert

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