Nidhi Company


INTRODUCTION


Nidhi Company is a company registered under the Companies Act, 2013, which has a sole objective of cultivating the habit of thrift and savings amongst its members. Nidhi companies are allowed to take deposit from its members and lend to its members only. Therefore, the funds contributed for a Nidhi company are only from its members (shareholders) and used only by the shareholders of the Nidhi Company.


RBI has exempted the notified Nidhi’s from the core provisions of the RBI Act and other directions applicable to NBFCs. Therefore, Nidhi Company is an ideal entity to take deposit from and lend to a specific group of people.


Benefits & Drawback


BENEFITS
DRAWBACKS
1  Ease of formation due to non-requirement of License            from RBI. 1  Limited Fund Raising as accepts deposits only from             their members.
2  Help in channelizing small savings. 2  Limited credit availabity due to limited fund
3   Lower rate of credit. 3  Falls under RBI vigilance especially their deposit             acceptance operations.
4  No outsider intervention as managed by members only. 4  Additional rules and regulations imposed by Central             Government.

RECOMMENDATION


Cultivating the habit of thrift and savings amongst members is the only objective of Nidhi company so please consult with advisor regarding your significant questions before incorporation. Additional opinion please contact with our advisor at zero fee.




DOCUMENTATION FOR REGISTRATION


1   Copy of PAN Card of Shareholders and Directors 2   Copy of Aadhar / Voter ID / Passport / Driving License/             etc. of Shareholders & Directors.
3   One passport size photo of both Shareholders and Directors 4  Copy of Electricity Bill for registered address of             Business.
5   Additional Details – Suggested CompanyName's, Objects             for Memorandum,Share Ration, etc

TIME LIMIT FOR REGISTRATION


Generally it takes 30-45 Days for registration. Name will be granted in 2-5 Days and rest for registration of Company.



Packages



SILVER


Included

29,999/-

Company Certificate

PAN/TAN Card

MOA/AOA

Rent Agreement

7 Digital Signature

3 Director Number

10 Lac Share Capital

Consultancy


GOLD


Included

35,999/-

Company Certificate

PAN/TAN Card

MOA/AOA

Rent Agreement

7 Digital Signature

3 Director Number

10 Lac Share Capital

Consultancy

ROC 1stAnnual Return




DIAMOND


Included

37,999/-

Company Certificate

PAN/TAN Card

MOA/AOA

Rent Agreement

7 Digital Signature

3 Director Number

10 Lac Share Capital

Consultancy

GST Registration

ROC 1stAnnual Return