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Nidhi Company Registration

Nidhi Company Registration is entirely an online based process. It is a type of lending company, and for incorporating it, the applicant company is needed to be registered with the MCA. Nidhi business structure is best suitable for young entrepreneurs who wants to enter the world of finance business.

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Nidhi Company Registration

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  1. Nidhi Company Registration

  2. An Overview of Nidhi Company Registration Nidhi Company has evolved as a popular lending mechanism for obtaining secured loans. It’s a type of lending company and it is formed to borrow and lend money to its members. These companies are most predominant in the Southern Parts of India. Further, Section 406 of the Companies Act, 2013, deals with the process of Nidhi Company Registration. The primary reason behind incorporating this business structure is to encourage and motivate its members to save so that they can smoothly satisfy their financial needs arising from time to time.

  3. Advantages of Nidhi Company Registration in India No External Involvement in the Company’s Management; Easy to lend money to or raise capital or borrowings from group members; Easy to manage; Low capital requirement; Relaxation in the number of compliances; Cost-efficient Registration; Many privileges and exemptions are provided under the provisions of the Companies Act, 2013; The Minimal involvement of RBI; Secured investment with a lower rate of interest; Low level of risk; Better savings option; Fulfilling the financial requirements of the lower and middle-income groups; Easy access to public funds; Limited liability.

  4. Pre-Registration Requirements for Nidhi Company A minimum of 7 members are required; A minimum of 3 directors are required No preference shares are allowed to issue; The minimum capital requirement is Rs. 5 lakhs; The Company's name must include "Nidhi Limited” at the end;

  5. Documents Required for Nidhi Company Registration Latest passport-sized photographs; NOC (No Objection Certificate) (signed by the owner or landlord); DIN (Director Identification Number) & DSC (Digital Signature Certificate) of directors; MoA (memorandum of Association) and AoA (Articles of Association) is required; PAN Card; For Address Proof: Driving License; Latest Ban Statement; Residence Card; Or any other Government-issued ID having a valid address. Residential Proof: Telephone bill; Electricity bill; Bank Statement; Mobile Bill. A passport is also mandatory for the companies whose director is a Foreign National and this document is not mandatory for Indian directors of Nidhi Companies; Registered Office proof for Nidhi Company Registration. 1. 2. 3. 4. 5. 6. 7. 8.

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