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WHAT IS NIDHI COMPANY ?
“Nidhi” is a Hindi word, which means finance or fund. 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 companies are allowed to take deposit from its members and lend to its members only. Therefore, the funds contributed for a Nidhi company are only from its members (shareholders) and used only by the shareholders of the Nidhi Company.
The principal source of funds is the contribution from the members. The loans are given to the members at relatively reasonable rates for purposes such as house construction or repairs and are generally secured.
Nidhi company is a class of NBFCs and RBI is empowered to issue directions to them in matters relating to their deposit acceptance activities. However, in recognition of the fact that these Nidhi’s deal with their shareholder-members only, RBI has exempted the notified Nidhi’s from the core provisions of the RBI Act and other directions applicable to NBFCs. Therefore, Nidhi Company is an ideal entity to take deposit from and lend to a specific group of people.
Nidhi company registration requires minimum 3 Directors & 7 Members. All the Nidhi company’s incorporated shall have the last word as “Nidhi Limited” as part of its name. Nidhi company is recognized under section 406 & Nidhi’s Rules, 2014 of the Companies Act, 2013.
BENEFITS OF NIDHI COMPANY
REGISTRATION WITH UNIQUE NAME
Registration of Nidhi Company with unique name (not be same or similar to the name of any existing company or a trademark) with Central Government (Ministry of Corporate Affairs).


DEPOSITS FROM MEMBERS & LOAN TO MEMBERS
Nidhi companies takes deposit from its members and lend to its members only.
The basic idea of a Nidhi Company is to save its members from the exploitation of money lenders who charge high interest rates. By becoming members of Nidhi’s people develop habit of savings and self-reliance.
RBI HAS EXEMPTED NIDHI’S FROM NBFC REGULATIONS
Nidhi company is a class of NBFCs and RBI regulate Nidhi Company.
RBI has exempted the notified Nidhi’s from the core provisions of the RBI Act and other directions applicable to NBFCs because Nidhi Company generally deals only with its members/shareholders.

CHANNELIZING SMALL SAVINGS FROM LOWER & MIDDLE CLASS
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INCREASE IN VALUATION
Gradually increase in valuation of your business venture, as your business progress.

LIMITED LIABILITY OF MEMBERS
Limited liability of members in company debts.
In a case of default, banks/creditors can only sell company’s assets but not personal assets of directors.

Nidhi promote the habit of saving and thrifts among lower and middle section of the society. These small sections of the population contribute to the funds of and avail credit from Nidhi companies.

BETTER CREDIBILITY
A Nidhi company enjoys better credibility when compared to Mutual Benefit Organizations.

EASY CHANGE IN MANAGEMENT
Board of Directors can be changed easily by members. No External Involvement in Management.
REQUIREMENT OF NIDHI COMPANY
REQUIREMENTS BEFORE INCORPORATION
A Nidhi company that has to be incorporated under this act shall be a public company.
Minimum 7 Members & 3 Directors.
It must have a minimum paid up equity share capital of 5,00,000/-
There will be no issuances of preference shares.




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REQUIREMENTS AFTER INCORPORATION




Every Nidhi shall, within a period of one financial year shall have:
Minimum of 200 members.
Net owned funds of 10,00,000/- or more.
Ratio of net owned funds to deposit is not more than 1:20.
Unencumbered term deposits should not be less than 10% of the outstanding deposits.
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DOCUMENTS FOR REGISTRATION OF PRIVATE LIMITED COMPANY






DOCUMENTS OF DIRECTORS/MEMBERS
(FOR MINIMUM 2 MEMBERS)
Passport size photo.
PAN Card.
Aadhar Card or Passport or Voter Id or Driving License (Any two).
Copy of Bank Passbook, Bank Statement, Mobile Bill or Telephone Bill (not more than 2 months old).
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DOCUMENTS OF REGISTERED OFFICE ADDRESS
Electricity or Phone Bill or Mobile Bill of office address.
Landlord NOC (Format will be provided).
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OUR PACKAGE
ALL INCLUSIVE PACKAGE INCLUDES













Digital Signature Certification.
DIN of 5 Directors.
Unique Name Search & Approval.
Authorized Share Capital of upto 10 Lakhs.
Incorporation Certificate, MOA & AOA.
PAN Number & TAN Number.
Bank Account Opening Documents.
PF & ESIC Registration
Professional Tax Registration
Government Fees.
Stamp Duty.
Professional Fees.
Advise from Expert.