“Nidhi” stands for ‘Finance or Funds ‘in Hindi.
It is a company which has been incorporated wrt to section 406 of the Company’s Act -2013 with the main object of receiving Deposits and Lending to its members only for their mutual benefit.
The Nidhi company registration requires minimum 3 members. All the Nidhi company’s incorporated shall have the last word as “Nidhi Limited” as part of its name.
The initial Paid-up capital of the company is Rs 5.0 lacs. After the company must have a Net Owned Funds (NOF) of at-least Rs 10.0 lacs.
AVALON has a great Package for the Nidhi Company with details as below:
Package value: Rs 35,000/-
This includes the following services:
- 3 x DIN for Directors.
- 3 x DSC for Directors.
- Name / Search Approval.
- Drafting of the MOA/AOA.
- TAN/PAN approval & issue.
Documents Required For Nidhi Company Registration
- Copy of Director’s PAN Card
- Passport size photograph of Directors
- Copy of Aadhar Card/ Voter identity card of directors
- Copy of Rent agreement(If rented property)
- Electricity/ Water bill (Business Place)
- Copy of Property papers (If owned property)
- Landlord NOC (Format will be provided)
Steps to Incorporate Nidhi Company Registration
1. Application of DSC & DPIN :
All the partners have to apply for the DSC (Digital signature) and DPIN for Nidhi company.
2. Name approval :
One has to put forward 3 x Names/Alternate names to MCA.
Names provided should ideally be unique and suggestive of company business.
Step 3. MOA & AOA submission :
After the approval of the Company –name; one needs to draft Memorandum of association and Articles of Associate.
But the object of the Nidhi company must always be a charitable object. Both MOA and AOA are filed with the MCA with the subscription statement.
Step 4. Get incorporation certificate :
It typically takes 20- 25 days to form a Nidhi company and get the Incorporation certificate. Incorporation certification is a proof that company has been created & It also includes your CIN number.
Step 5. Apply for PAN, TAN and Bank account :
The TAN & PAN need to be processed within a week of installing the hardware.
PAN and TAN are received in 7 working days.
After this event; one can submit the Incorporation certificate, MOA, AOA and PAN with bank to open your account.