- 198 Model Town, Sirol Road, Gwalior
- email@taxpayindia.in
- +91 9425190807
Nidhi Limited
Introduction
A Nidhi company is a type of company in the Indian non-banking finance sector, recognized under section 406 of the Companies Act, 2013. Their core business is borrowing and lending money between their members. They are also known as Permanent Fund, Benefit Funds, Mutual Benefit Funds and Mutual Benefit Company.
Business Format Description
Nidhi company registration is simple and less complex as compared to other types of finance companies like NBFC which require RBI license to start. A nidhi company can be started with an initial capital of Rs.5 lakh and requires at least seven people to start with (minimum 7 members). Nidhi company registration also requires three directors initially. Every promoter or director needs a copy of PAN card, ID proof and address proof to apply for a nidhi company in India. Minimum no. of directors shall be three.
Eligibility :
• Directors must have minimum age of 21 years and maximum age of 70 years.
• Directors should not be disqualified under section 164 of the companies act, 2013.
• No proceeding under COFEPOSA should be pending, against the directors.
• Directors should not be convicted of any imprisonment over 7 years.
• Persons with Sound Mental Health can start a company.
• Persons recognized as Insolvent by the court of law cannot be a director the company, until such insolvency omits.
• Director Identification Number is required u/s 152 of the companies act, 2013
Required Documents
• PAN of Every Promotor/Director/Managerial Personnel.
• AADHAR of Every Promotor/Director/Managerial Personnel.
• Passport Size Photo of Every Promotor/Director/Managerial Personnel.
• Digital Signature Certificate of Every Promotor/Director/Managerial Personnel.
• Bank Statement with latest entries , not later than 2 months of Every Promotor/Director/Managerial Personnel.
• Passport of Every Promotor/Director/Managerial Personnel. (Mandatory, if available)
• Voter ID/ Driving License of Every Promotor/Director/Managerial Personnel.
• Recent Utility bill as a address proof of the companies registered place of business.
• Rent Agreement / NOC by the Owner.
• Declaration as per Nidhi Rules 2014.
• Other ancillary documents(If required, as per the special nature of the company)
-
₹799
inclusive tax
Nidhi Co-(Expert Advice/Consultancy Charges)
-> Get expert advice.Our team have experienced CA/CS/Legal Council.They will Guide you about registration process, documentation,legal requirements,advantage pvt.ltd. formation,taxation matters,legal compliances etc.
₹799 per year
-
₹15499
inclusive tax
Nidhi Co-(Gold Plan-includes)
* Expert Advice * Company Incorporation * Filling/Drafting of documents by experts. * Filling the documents with MCA for processing * CIN * PAN Allotment * TAN Allotment * Allotment of Director Identification No. (DIN)-03 DINs * GST Regist...
₹15499 per year
-
₹32999
inclusive tax
Nidhi Co-(Platinum Plan-includes)
* Expert Advice * Company Incorporation * Filling/Drafting of documents by experts. * Filling the documents with MCA for processing * CIN * PAN Allotment * TAN Allotment * Allotment of Director Identification No. (DIN)-03 DINs * GST Regist...
₹32999 per year
-
₹45999
inclusive tax
Nidhi Co-(Diamond Plan-includes)
* Expert Advice * Company Incorporation * Filling/Drafting of documents by experts. * Filling the documents with MCA for processing * CIN * PAN Allotment * TAN Allotment * ESIC Registration * PF Registration * Allotment of Director Identi...
₹45999 per year
Benefit of a Particular Format:
Seprate Legal Entity
Company is a separate legal entity, which can sue as well as can be sued.
NBFC
Company is classified as Non Banking Financial Corporation as well as no license from RBI is required.
Perpectual Existence
Existence of company is perpetual. (having Unlimited Life)
Classification
Nidhi Company is classified as a Public Company.
Members
Nidhi company can only deal with its members.
Corporate Member
Corporate Members are not allowed as members.
Objective
Nidhi company is incorporated just to facilitate habit of savings and thrift among its members.
Seprate Legal Entity
Company is a separate legal entity, which can sue as well as can be sued.
NBFC
Company is classified as Non Banking Financial Corporation as well as no license from RBI is required.
Perpectual Existence
Existence of company is perpetual. (having Unlimited Life)
Classification
Nidhi Company is classified as a Public Company.
Members
Nidhi company can only deal with its members.
Corporate Member
Corporate Members are not allowed as members.
Objective
Nidhi company is incorporated just to facilitate habit of savings and thrift among its members.
Process :
- Applicant has to fill up the form for required incorporation services
- Stay Relax, our representative will connect with you at earliest
- Get your documents ready, Our executive will ask for the necessary forms/documents/deeds.
- Our executives will finally scrutinised the forms/documents/deeds provided by you.
- After submission of E-Forms,, approval will be granted by Registrar
- Congratutaion !! Your are ready to Kick Start your venture.
- Applicant has to fill up the form for required incorporation services
Frequently Questions :
Incorporating a company through Simplified Proforma for Incorporating Company electronically (SPICe -INC-32), withe MoA (INC-33), eAOA (INC-34), is the default option and most companies are required to be incorporated through SPICe only.
A proposed name can be reserved for the purpose of incorporation of a company or change of name of an existing company through the RUN service by logging into the MCA portal along with a fee of Rs. 1000/-. Further, you may use the SPICe form for the integrated process of name reservation and incorporation of a company.
An approved name is valid for a period of
(i) 20 days from the date of approval (in case name is being reserved for a newcompany) or
(ii) 60 days from the date of approval (in case of change of name of an existingcompany)
The minimum paid up capital at the time of registration of a company shall be as Rs. 5Lakh, which is to be enhanced upto Rs. 10 Lakh with in one year from incorporation
Invariably, the Balance Sheet and Annual Return have to be filed every year. Other documents such as, Return of Allotment (Form No. Pas-3), Change of Registered office (Form No. INC-22), Change among the Directors (Form No. DI- 12), Charges (Form No. CHG- 1, 9, 4) etc., have to be filed within the due date from the events taking place in the company as per the Companies Act, 2013. As well in Nidhi Company Several NDH forms are mandatory to be filed as per Nidhi Rules, 2014.
The company will have to file all the due annual returns and balance sheets for the financial years for which it has been marked as defaulting. Once the same are filed, the defaulting status of the company will be removed and the company will be able to file normally.