All you need to know about Nidhi Company Registration in India – Nidhi Company is a company that comes under the non-banking Indian finance sector. The main objective of this company is to develop the policy of thrift and stockpile funds amongst its members. This type of company is acknowledged under section “406” of the Companies Act, 2013 and Nidhi Companies Rules, 2014. It also receives deposits and lends funds to its members under several conditions. The important aim to develop Nidhi Companies is to cultivate the habit of saving funds between the members.
The most important rule out Nidhi Companies is, it can receive and lend funds only from or to its members. They are governed by the Ministry of Corporate Affairs and Federal Reserve Bank of India is permitted to manage the Nidhi company’s fund regulations like deposit acceptance activities than on. Nevertheless, as these companies only receive or lend money only from or to its members, RBI has freed them from the core provisions or planning or regulations relevant to NBFC.
How to Register Nidhi Company Online in India
The actual time interval for Nidhi Company Registration is about 45 days, registration of a Nidhi Company comprises the subsequent steps:
First and foremost, to register Nidhi Company or incorporated Nidhi Limited, a minimum of seven Members and three Directors are required.
You should apply for DIN and DSC.
After receiving the DIN and DSC, you ought to file an application to MCA to order the name for your Nidhi Company.
After getting the name approval, draft the detailed Memorandum of Association (MoA) and Articles of Association (AoA). Prepare the MoA and AoA considering the Nidhi objects and everyone other needed documents carefully.
File the application for Incorporation.
After receiving the Incorporation Certificate, apply for TAN and PAN
The MCA or Ministry of Corporate Affairs has offered an integrated incorporation form INC-32. Therefore, the method of registration is straightforward and straightforward, because it all are often done online, yes! a Nidhi Company is often incorporated by filling the Simplified Proforma for Incorporating Company Electronically (SPICe) form through Form INC-32 with DSC or Digital Signature Certificate of the Director and with eAoA in Form INC-34 and eMoA in Form INC-33.
Requirements for Nidhi Company Online In India:
The name of such company must contain “Nidhi Limited”.
The Nidhi Company which is incorporated under this Act is going to be a “Public Company”.
The Nidhi Company should have a minimum equity share capital of about Rs. 5,00,000/.
There should not be an issue of preference shares/debentures by Nidhi Company. (If any such shares had been issued already by a Nidhi Company before the outset of this Act, that particular preference shares must be redeemed in conformity with the terms of issue of the shares).
The objective of Nidhi would be to imbibe within the members a habit of thrift and saving and therefore the services would only be restricted to its members.
