Nidhi Company is the most popular system for providing loans and to accept deposits from its members. It is also called mutual benefit Company. For Providing Loans and Accepting Deposits you have to register Nidhi Company with the Capital of 10 Lakh and need to maintain the prescribed Net Owned Fund. You can lend money and accept deposit from its members as per rules.
Nidhi Company will always be public limited company and its name should end with ‘Nidhi Limited”, Presently Nidhi Company is becoming very popular for lending business. You don't need prior experience to start it, our team will guide you step by step under Ozg Startup Program.
Nidhi Company is governed by the Provisions of Companies Act, 2013 and Nidhi Rules, 2014
Nidhi Company Registration Procedure:
- Obtaining DSC for All the members and Directors
- Application for Approval of name
- Preparation and Drafting of Incorporation documents
- Signing of Incorporation Documents
- Application for Incorporation of Nidhi Company with ROC
- Approval by ROC, after verifying all the required documents and information.
Nidhi Company Requirements:
1. Required Minimum 3 Directors and 7 Shareholders2. Can Accept Deposits only from its members3. Body Corporate and Benefit of Limited Liability4. Can Land Money to its Members only5. Can Provide Locker Facility to its members6. Required to have Minimum 200 members within one Year7. Best suited for Small lending and deposit Business8. Minimum Capital Rs. 5 Lakh at the time of Incorporation and Thereafter required to have Rs. 10 Lakh.Documents Required
1. PAN of all Directors2. Voter ID/DL/Aadhar Card/Passport of All Directors /members3. Passport Photo of all Directors4. Latest Bank Passbook/Statement or Electricity/Broadband Bill5. Latest utility bill (electric bill/telephone bill) and Rent Agreement or latest tax receipt/ownership deep of the property for the property to be used for registered office
