Introduction: The Nidhi company incorporation process can be a complicated process. Let us simplify and break down the process for you to understand the entire picture. The National Initiative for Developing and Harnessing Innovations stands for NIDHI. It is a financial institution or NBFC, that involves deposits and money lending to its members.
Nidhi company registration is done online through the Companies Act of 2013 and is governed as per the guidelines of the (RBI) Reserve Bank of India. It deals with shareholders only; the RBI exempted notifying NIDHI Company from the core of RBI Acts and other directions apply to NBFC.
The Ministry of Corporate Affairs governs the NIDHI company or Nidhi company registration. Company Act provisions regulate the NIDHI companies; they are excluded from the specific Act provisions applicable to other companies.
Sub-topic: Benefits Nidhi company consultants in India
- The consultant will provide you with complete support in the Nidhi company incorporation process.
- They will provide you with assistance, from documentation to certification.
- The experts will invest to sustain efforts in finding the most appropriate name for the company.
- It will keep track of your application.
- It will provide you with the most satisfactory solution to your concern about the Nidhi company registration process.
Conditions to be followed by NIDHI Incorporation
- You must have 200 members within 1 year
- It should possess new owned funds worth Rs 10 lakh or above.
- New Owned Fund deposits must adhere to the specified ratio of 1:20 or less.
- A minor, trust, or corporate body is not permitted to join NIDHI Company.
- The obligation term deposit should be above 10% of outstanding deposits.
Documents Required
- Passport-size photographs.
- DSC stands for Digital Signature Certificate.
- NOC signed by the landlord or owner.
- DIN stands for Director Identification Number.
- Address proof and residence proof.
For the complete list of documents for Nidhi company certification, check here.
Nidhi Company Registration Process
- Obtain the Director Identification Number and Digital Signature Certificate before starting the NIDHI company registration procedure.
- You must submit an MCA application to have your name approved. For this reason, the company's name needs to be distinctive and not invade intellectual property.
- Once the application has been completed, provide the necessary paperwork—including the MOA and AOA—to the Registrar of Companies using INC Form 32. Mention the fundamental objective of establishing the NIDHI company.
- After examining the documentation, you can obtain the certificate of incorporation.
- You must apply for PAN and TAN as soon as you receive the certificate of incorporation.
- Finally, generate a bank account for the company's transactions.
Conclusion: In conclusion, the article mentions the smooth procedure for Nidhi company certification. Take advantage of the best Nidhi company consultants in India, such as JR Compliance, who have great experience. If you have queries on the Nidhi company incorporation process, then reach out to experts.