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Nidhi Company Incorporation
Nidhi Company Incorporation within 10 days
Nidhi Company is basically a NBFC (Non Banking Financial Company). The word ‘Nidhi means’ funds. It is a Hindi word. In India, Section 406 of the Companies Act 2013 and Companies (Nidhi Companies) Rules, 2014 governs the procedure for Incorporation Process of a Nidhi Company. Nidhi Companies deals with lending and borrowing of funds to its members. It can lend money only to its members. In South India such types of companies are more in vogue. RBI has been discretionarily empowered in India to issue direction to such Companies for matters relating to acceptance of deposits from the members. Nidhi Companies are not allowed accept deposits other than its members.
Incorporation of a Nidhi Company requirements
Requisites before Incorporation process
- Members : Minimum 7 members are required
- Director : Minimum 30 Directors.
- Capital : Minimum capital adequacy to start a Nidhi Company .
- DIN : For 3 Members
- DSC : Digital Signature Certificate for Directors
- Proof of Registered Address ( like light bill/rent agreement ).
- NOC from the owner premises.
Requisites after Incorporation Process
- Minimum members : Minimum 200 members
- Net owned funds :
- Minimum net owned funds to deposit ratio : 1:20
- Digital Signature ( DCS ) for one person.
- Consent From the Owner & Nominee.
- Proof of Registered Address ( like light bill/rent agreement ).
- NOC from the owner premises.
Documents required
ID PROOF (FOR MEMBERS)
- Pan Card
- Passport
- Voter ID
- Aadhar Card
- Driving License
ADDRESS PROOF
- Bank Statement
- Telephone bill
- Mobile Bill
- Electricity bill
PROOF OF PLACE OF BUSINESS (IF RENTED)
- Rent Agreement and NOC from Landlord is required
PROOF OF PLACE OF BUSINESS (IF OWNED)
- Electricity Bills or Index II is sufficient.