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Starting a Nidhi Company in India | Register Nidhi Company Online, Nidhi Company Registration Process PowerPoint Presentation
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To start a Nidhi Company in India, the first step is to incorporate a Limited Company, under the Companies Act, 2013 for the online nidhi company registration.\n\n\n\n\n

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eaning nidhi company means a company which

EANING:

Nidhi Company means a company which has been incorporated as a public company with the

object of-Culvang the habit of thri and savings amongst its members and receiving deposits

from, and lending to, its members only, for their mutual benefit.

OBJECT TO INCORPORATE NIDHI COMPANY:

Nidhi Company is incorporated with following objecves:

To smulate savings among its member

To lend Loans and receive money as deposits for the purpose from only its members.

Since Nidhis come under NBFCs, the RBI is empowered to issue direcons to them in maers relang to

their deposit acceptance acvies. However, since Nidhis deal with their shareholdermembers only,

RBI has exempted such nofied firms from the provisions of the RBI Act and other direcons

applicable to NBFCs.

APPLICABILITY:

The Central Government made ‘Nidhi Rules, 2014’ for the purpose of carrying out the objecves

of ‘Nidhi’ companies. These rules shall be applicable to

Every company which had been declared as a Nidhi or Mutual Benefits under Secon 620A(1)of

Companies Act, 1956;

Every company funconing on the lines of a Nidhi company or Mutual benefit society but has either

not applied for or has applied for and is awaing noficaon to be a Nidhi or Mutual Benefit Society

under Secon 620A(1)of Companies Act, 1956;

Every company incorporated as a Nidhi pursuant to the provisions of Secon 406of the Companies

Act, 2013.

PRE-REGISTRATION REQUIREMENTS FOR REGISTERING A NIDHI

COMPANY :

Minimum Three Directors:

Minimum three Directors are required to incorporate Nidhi Company. All this three director has

to act as members of the company.

Minimum Seven Members:

Nidhi Company can be started with seven members. Out of which 3 are also to be appointed as

directors.

Minimum Capital Requirement:

Nidhi Company as Public Limited Company Should have Capital of Rs.5,00,000/- Like Public

Limited Company.

no preference shares shall be issued object

No Preference Shares shall be issued.

Object of the Company

The objecve of such a firm would be to imbibe in the members a habit of thri and saving and the

services would only be restricted to its members;.

The name of the company must have word as Nidhi Limited at the end.

PROCEDURE FOR INCORPORATION OF NIDHI COMPANY :

Get Digital Signature Cerficate (DSC) of all seven members.

Get Director Idenficaon number (DIN) of three Directors by using DSC.

Suggest at least Six Company name. We will do search for name availability.

Apply to ROC for name approval with adding word Nidhi Limited. Once name is approved by

ROC File Incorporaon document with ROC like MOA AOA Consent of

Director, Affidavit and declaraon from directors etc.

Once Incorporaon form is approved by ROC, ROC shall issue Cerficate of Incorporaon with

PAN and TAN No.

Requirement to Apply for DSC:

All 7 members should have DSC

Pan Card Self Aested

Residenal Proof Self Aested

Dully fill and sign DSC applicaon form.

Requirement to Apply for DIN:

(Minimum Three Directors are required for Incorporaon of Nidhi Company)

Photograph of the Applicant – To be Self-aested.

PA N – To be Self-aested Mobile No. Email id.

Educaonal Qualificaon

Occupaon

Proof of residence of applicant

Address proofs like passport, elecon (voter identy) card, raon card, driving licence, electricity bill,

telephone bill or bank account statement shall be aached and should be in the name of applicant (

shall not be later than 2 months).

DSC of Individual.

requirement to apply for name availability

Requirement to Apply for Name Availability:

Six Proposed name with significance of Name

Authorized Capital- Minimum 5 Lacs

Jurisdicon of Registrar of Companies.

Main Object to be pursued by Company

Requirement to Apply for Incorporaon of Nidhi Company:

Registered office address of Company.

Recent Address proof with NOC from Owner.

Consent from all Directors

Affidavit and declaraon from all directors and subscribers.

TIME PERIOD:

Time Required for Incorporaon of Nidhi Company Shall be 20-30 days, depending on

government approval.

POST-REGISTRATION REQUIREMENTS FOR A NIDHI COMPANY :

There are certain Compliances which Nidhi Company has to do aer incorporaon of Nidhi

Company. Every Nidhi Company shall, within a period of one year from Incorporaon of the

company, ensure that it has

Not Less than 200 Members:

Aer incorporaon, a Nidhi company must add at least 200 members to comply with this

requirement of law. Further, it has to maintain this during the course of me. If the total members

falls less than 200 at any me thereaer, it will leave the company at default. However, if the

company is not able to reach the limit of 200 members, then you must apply for me within 30

days of closure of financial year in Form NDH-2 with Regional Director.

Net Owned Fund:

Net owned funds shall be Rs.10,00,000/- or more (‘Net owned funds’ means the aggregate of

paid up equity share capital and free reserved as reduced by the accumulated and intangible

assets appearing in the last audited balance sheet).

Ratio:

Ratio of net owned funds to deposit shall be not more than 1:20. This ratio is very easy to

understand. Suppose, if you have net owned funds of 10 lakh, then your total deposit limit would

be INR 2 Crore.

Deposit:

Unencumbered term deposits of not less than 10% of the outstanding deposits as specified in

Rule 14.

Members restricon:

a nidhi company shall not admit a body corporate

A Nidhi Company shall not admit a body corporate or trust as a member. A minor shall not be

admied as a member of Nidhi Company. But deposits may be accepted in the name of a minor, if

they are made by the natural or legal guardian who is a member of Nidhi

GENERAL RESTRICTIONS:

Rule 6 provides general restricons.

Carry on the business of

Chit Fund,

Hire Purchase Finance,

Leasing Finance,

Insurance or Acquision of Securies issued by anybody corporate;

Issue

Preference Shares,

Debentures or

Any Other Debt Instrument by any name or in any form whatsoever;

Open any Current Account with its members;

Acquire another company by;

Purchase of securies or

Control the composion of the Board of Directors of any other company in any manner whatsoever or

Enter into any arrangement for the change of its management, unless it has passed a special resoluon

in its general meeng and also obtained the previous approval of the Regional Director having

jurisdicon over Nidhi;

Carry on any business other than the business of borrowing or lending in its own name;

Accept Deposits from or lend to any person, other than its members;

Pledge any of the assets lodged by its members as security;

Take Deposits from or lend money to anybody corporate;

Enter into any Partnership Arrangement in its borrowing or lending acvies;

Issue or cause to be issued any adversement in any form for solicing deposit;

Pay any brokerage or incenve for mobilizing deposits from members or for deployment of funds or

the granng loans.

Share capital allotment:

Every Nidhi shall allot

To each deposit holder at least a minimum of 10 equity shares or shares equivalent to Rs.100/-.

To each savings account holder and a recurring deposit account holder at least 10 equity shares of

Rs.10/-.

Acceptance of deposits:

a nidhi shall not accept deposits exceeding

A Nidhi shall not accept deposits exceeding 20 mes of its Net Owned Assets as per last audited

financial statements.

The fixed deposits shall be accepted for a minimum period of 6 months and a maximum period of 60

months.

Recurring deposits shall be accepted for a minimum period of 12 months and a maximum period of

60 months.

In case of recurring deposits relang to mortgage loans, the maximum period of recurring deposits

shall correspond to the repayment period of such loans granted by Nidhi.

The maximum balance in a savings deposit account at any given me qualifying for interest shall not

exceed Rs.1,00,000/- and the interest shall not exceed 2% above the rate of interest payable to

savings bank account by naonalized banks.

Interest for fixed and recurring deposits shall be at a rate not exceeding the maximum rate of interest

prescribed by RBI which the NBFC can pay on their public deposits.

Every Nidhi shall invest and connue to keep invested, in unencumbered term deposits with a

scheduled commercial bank or post office deposits in its own name an amount which shall not be

less than 10% of the deposits outstanding at the close of the business on the last working day of

the second preceding month.

In case of unforeseen commitments, temporary withdrawal may be permied with the prior

approval of the Regional Director for the purpose of repayment to depositors, subject to such

condions and me limit which may be specified by the Regional Director to ensure restoraon of

the prescribed limit of 10%

contact us

Contact Us:

Head Office (India)

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Sr.No-29, Ajikyatara, kalaniketan,

Dhankawadi, Near Rajshri Shahu

Bank,

Pune, Maharashtra 411043 (IN)

Phone: (020)-65 3636 33

Branch Office (Netherlands)

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3031 AV Rotterdam, (NL)

Phone:+31 614 575 275