How to do Nidhi Company Registration: Nidhi Company is the most popular form for giving loans to its members and accept deposits from its members. It is also called a mutual benefit Company. For Providing Loan and Accepting Deposits you have to register Nidhi Company and with the Capital of Nidhi Company subject to the Condition provided in Nidhi Rules you can lend money and accept deposits from Its members.
Nidhi Company will always be a public limited company and its name should end with ‘Nidhi Limited”, Presently Nidhi Company is becoming very popular for lending business.
Nidhi Company is governed by the provisions of the Companies Act, 2013 and Nidhi Rules, 2014
Nidhi Company Registration Procedure:
- Obtaining DSC for All the members and Directors
- Application for Approval of name
- Preparation and Drafting of Incorporation documents
- Signing of Incorporation Documents
- Application for Incorporation of Nidhi Company with ROC
- Approval by ROC, after verifying all the required documents and information.
Basic Features about Nidhi Company for Registration:
1. Required Minimum 3 Directors and 7 Shareholders
2. Can Accept Deposits From its members
3. Body Corporate and Benefit of Limited Liability
4. Can Land Money to its Members
5. Can Provide Locker Facility to its members
6. Required to have a minimum of 200 members within one Year
7. Best suited for small lending and deposit Business
8. Minimum Capital Rs. 5 Lakh at the time of Incorporation and Thereafter required to have Rs. 10 Lakh.
Documents Required for Nidhi Company Registration
1. PAN of all Directors
2. Voter ID/DL/Aadhar Card/Passport of All Directors /members
3. Passport Photo of all Directors
4. Latest Bank Passbook/Statement or Electricity/Broadband Bill
5. Latest utility bill (electric bill/telephone bill) and Rent Agreement or latest tax receipt/ownership deep of the property for the property to be used for registered office