Overview:-
According to Section 406 of the 2013 Companies Act, a non-banking finance company in India is known as a "NIDHI COMPANY."Nidhi companies are majorly found active in Southern India. A Nidhi company’s main line of business is lending and borrowing amongst members. Other names for them include mutual benefit businesses, benefit funds, mutual funds, and permanent funds.
The Ministry of Corporate affairs oversees Nidhi Company and has the power to provide them with instructions about their deposit acceptance activities. These businesses exclusively interact with their shareholder-members and were established with the intention of imparting the value of saving amongst its members. It also collects deposits from and lends money to its members only for the benefit of its members.
Benefits:-
- Easy to Form
- Minimum Capital.
- Limited RBI Regulations.
- No intervention from any other outside body.
- Limited Credit Availability
What kind of business should go for Nidhi Company:
- Any kind of financial business that one wants to start with other members
- Any lending business that needs to be legalized.
Documents Required:-
- NOC(No Objection Certificate).
- DSC (Digital Signature Certificate)
- DIN (Directors Identification Certificates).
- Memorandum of Association(MoA)
- Articles of Association(AoA)
- PAN Card
- Residential proof
- Address proof
- Passport
- Registered office proof
- Passport Sized Photograph
Steps to start:-
- Name Reservation.
- Apply for DSC.
- Prepare MoA & AoA
- Fill out the Spice+ web form for Nidhi company.
What we offer:-
- Name Reservation: We assist you in making a name reservation with MCA.
- We assist you in obtaining one DSC and three DINs.
- Documentation and approval - We support you throughout the documentation procedure and in obtaining in-principle RBI approval.
But Why Choose Us?
Quick & Affordable
Ideal Consultation
Excellent Service
Guaranteed Money Back
FAQ's
