Introduction of the Nidhi Company

Nidhi Company is a company registered under the Companies Act, 2013, which has a sole objective of cultivating the habit of thrift and savings amongst its members. Nidhi Company is easy to form because it isn’t required to receive the license from Reserve Bank of India (RBI). It is registered as a public company and should have “Nidhi Limited” as the last words of its name. The activities of a Nidhi Company does fall under the purview of Reserve Bank of India, as it is similar to a NBFC. All lending and acquiring must agree with the decree stated in chapter XXIV of Company Rules, 2014.

Documents Required for Nidhi Company Registration

To Be Submitted By All Directors 1. Self-attested copy of PAN Card 2. Self-attested copy of Driver’s License/ Voter ID/ Aadhaar Card/Passport 3. Self-attested copy of Bank Statement/ Telephone Bill/Mobile Bill/ Electricity Bill 4. Passport-size Photograph 5. Specimen Signature Certificate 6. Digital Signature Certificate (DSC) of the company 7. Director Identification Numbers (DIN) of all the directors 8. Certified copy of the updated Memorandum of Association (MoA) of the company 9. Certified copy of the updated Articles of Association (AoA) of the company

How to Register a Nidhi company Online

With basic identity documents, you can register your Nidhi Company. We help you register a Nidhi Company in 4 simple steps. Step 1:-Fill the form and attach the scan copy of your documents. Step 2:- Our team will verify all the information and documents provided by you. Step 3:- Then we will start the registration process after verifying the authenticity of the documents. Step 4:- Once your Nidhi company is incorporated, we will intimate you.

FAQ’s On Nidhi Company

What is the minimum number of directors needed to register a company as a Nidhi Company?

At least 3 directors are needed to apply and register as a Nidhi Company.

Can a Nidhi Company open branch offices?

Yes, a Nidhi Company can open branch offices. Although the provisions for opening a branch office has to be met in order to be eligible.

How many branches can be opened by a Nidhi Company?

A Nidhi Company can open only 3 branches within a district. In order to open more than 3 branches, the company has to seek the Regional Director’s approval for every additional branch.

What is the eligibility to be a director in a Nidhi Company?

A director has to be a member of the company and must comply with the requirements of Section 152(4) of the Companies Act.

Is a body corporate allowed to be a member of a Nidhi Company?

No, a body corporate will not be admitted as the member of a Nidhi Company.

Can the director of a Nidhi Company be a salaried person?

Yes, the director of a Nidhi Company can be a salaried person.

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