Nidhi Company Registration
Nidhi Company
Nidhi Company Registration is Regulated by the Ministry of Corporate Affairs and all the activities are done as per the provisions of Nidhi Rules, 2014. A Nidhi Company is registered as a Public Limited Company with a minimum of 7 members and uses the suffix “Nidhi Limited” with the name of the Company. A Nidhi Company carries on the business of accepting deposits and lending the same on demand and is similar to NBFC but the only basic difference between the two is that Nidhi Companies can accept deposits and lend money only from/to its members. The main aim of these companies is to work for the mutual benefit of its members. These companies are not entitled to carry on the business of Hire Purchase Financing, Insurance, Chit Funds, and Acquisition of securities or Issue of any Debt Instruments.
Documents and information required for setting up of Nidhi limited Company
- Digital Signature Certificate of all Subscriber
- Self attested copy of PAN of all Director/Shareholders
- Self attested Copy of Passport/DL/Voter ID of all Directors/Shareholders
- Latest Bank statement of all Directors/Shareholders
- Object of the Company
- Capital of the Company
- Affidavit and Declaration by first subscribers and directors
- Signed DIR-2 (Consent to act as a Director)
- Proof of Registered Office of the Company
- Declarations as per Nidhi Rules, 2014.
Nidhi Company Registration
Nidhi Company Registration
Brief Procedure for Registration of a Nidhi Limited Company
- Obtain Digital Signature of the proposed Directors of the Company. Digital signature is required for signing of the incorporation application (Spice Form)
- Reserve a unique fresh name by making an application in Online web service i.e. RUN along with a Declaration as prescribed under Companies (Incorporation) Rules, 2014. Please note reserved name is valid till 20 days from the approval date.
- File application form (Spice forms linked with AGILE form) with the MCA. Now Companies can obtain ESIC/Provident Fund Registration/GSTIN at the time of registration of the Company.
- On being satisfied, CRC (Central Registrar Center) shall proceed to issue certificate of incorporation.
- After getting Certificate of Incorporation, Open Current Account in bank and deposit the subscribed amount of MOA in the Bank Account.
- File e-form INC-20A (Declaration for commencement of business) with MCA within 180 days from the incorporation date along with Bank statement of the Company