ONLINE NIDHI COMPANY REGISTRATION | REGISTER A NIDHI COMPANY

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ONLINE NIDHI COMPANY REGISTRATION REGISTER A
NIDHI COMPANY What is a Nidhi Company? A Nidhi
company is one that belongs to the non-banking
Indian finance sector and is recognized under
section 406 of the Companies Act, 2013. Their
core..
What is a Nidhi Company? A Nidhi company is one
that belongs to the non-banking Indian finance
sector and is 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. They are regulated by Ministry
of Corporate Affairs. Reserve Bank of India is
empowered to issue directions to them in matters
relating to their deposit acceptance activities.
However, in recognition of the fact that these
companies deal with their shareholder-members
only. Nidhi means a company which has been Nidhi
Company incorporated with the object of
developing the habit of thrift and reserve funds
amongst its members and also receiving deposits
and lending to its members only for their
mutual benefit.Navika India Nidhi Limited is one
of the best Nidhi Company in india Nidhi
companies existed even prior to the existence of
companies Act 2013. The basic concept of nidhi
is Principle of Mutuality These companies are
more popular in South India, and 80 of Nidhi
companies are located in Tamil Nadu. What is the
requirement for registration of a Nidhi
company? Nidhi is a Hindi word, which means
finance or fund. Nidhi means a company which has
been incorporated with the object of developing
the habit of thrift and reserve funds amongst its
members and also receiving deposits and lending
to its members only for their mutual benefit.
Nidhi company registration requires minimum 3
members. All the Nidhi companys
incorporated shall have the last word as Nidhi
Limited as part of its name. Nidhi company is
easy and economical to register. Nidhi company
registration can be done through LegalRaasta in
Delhi NCR, Mumbai, Bengaluru, Chennai and other
Indian cities. Nidhi Company requires minimum 3
members. It might not issue preference share. If
preference shares have already been issued by a
Nidhi Company before initiation of this Act, such
preference shares are to be redeemed in
accordance with the terms of issue of such
shares. All the Nidhi companys incorporated
shall have the last word as Nidhi Limited as
part of its name. Nidhi Company Registration is
done through Legalraasta. Which Documents
required for registration?
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• Proof of the registered place of business
  (Ownership documents/ rent or lease agreement)
• No Objection Certificate (signed by the owner/
  landlord)
• Identity proofs
• Address proofs of the members
• Photos of the members
• PAN card copies of the members
• Digital Signature (DSC)
• Director Identification Number (DIN) of the
  directors
• Memorandum of Association of the company (MoA)
• Articles of Association of the company (AoA)
• The process of Registration of Nidhi Company
• Usually, Nidhi Company Registration Process takes
  up to 45 days, Registration of a Nidhi Company
  consists the following steps
• Minimum 7 Members and 3 Directors will be
  required to start the Incorporation of Nidhi
  Limited.
• Apply for DIN and DSC.
• After getting the DIN and DSC, file an
  application in INC-1 to MCA for reservation of
  name of Nidhi Company.
• Once the name is approved, Prepare Memorandum of
  association and Articles of Association
  according to Nidhi objects and all other required
  documents carefully.
• Apply for Incorporation.
• Get Incorporation Certificate.
• Apply for PAN and TAN

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