Nidhi Company Registration
Deliverables - Documents Required - Timeline
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Deliverables
Partnership deed, Name approval of the company ,Drafting service by legal expert
Main object , MOA and AOA drafting
Members DIN and Digital signature (DSC)
PAN and TAN
Certificate of incorporation and registration
Documents Required For Nidhi Company Registration
- Photo, PAN and Aadhar of members
- Copy of notarised rental agreement
- Copy of sale deed/property deed (if owned property)
- Holding/Municipal tax receipt
- Recent electricity bill in the name of owner
Timeline
20 Days
(from receipt of all documents)
Step 1
Form INC 9 and DIR 2 to be filed
Step 2
Obtaining DSC for members
Step 3
Preparation of company's AOA and MOA
Step 4
Issuance of certificate of incorporation, Pan and TAN and Nidhi bank account
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FAQs
A Nidhi company falls in the category of “Non-Banking Financial Companies (NBFCs)”, which does not require any license from the Reserve Bank of India (RBI). It is formed for the sole purpose of accepting deposits and lending loans to it’s members only.
A Nidhi company is not to accept deposits of more than 20 times of it’s Net Owned Funds (NOF) as per it’s last audited financial statements.
1. An individual person, not a corporate body or trust, can become a member.
2. The person must be over 18 years of age and a citizen of India.
A Nidhi company is prohibited to engage in “chit funds, insurance, leasing finance, or acquisition of securities” issued by any Body Corporate.
• A Nidhi company cannot issue preference shares, debentures, or any other such instrument.
• It cannot accept deposits nor lend money to anyone, other than it’s members.
• These companies cannot pay any incentive for mobilizing deposits.
