Registration business as Nidhi Company, A Nidhi Company Registration is fashioned and formed on the whole and essential for the motive of encourage as the hopeful savings as well as or as in the good health abstinence or the prudence in the middle of or in the surrounding its members.
This business and concern is registered and listed beneath and below or lower than the Companies Act, 2013 and is direct, administer, and supervise, as per the RBI’s course of action and the guiding principle. All the communication or the connections are performed by the company’s and the business and the commerce the members only.
The word “Nidhi” in Nidhi Company means “treasure” and it originates from the Hindi vocabulary.
FEATURE AND ADVANTAGES TO REGISTER A NIDHI COMPANY:-
1. SEPARATE LEGAL ENTITY:
Nidhi Company is a separate legal entity that can acquire assets and incur debts in its own name.
2. NO EXTERNAL INVOLVEMENT:
Nidhi Companies take funds from their members and further provides loans to their members only. All transactions are done within this group only. So, no external factors are affected by the working of these companies.
3. LOW CAPITAL REQUIREMENT:
There is minimum capital paid up capital requirement of Rs. 5 lakh for registration of Nidhi Company.
4. EASY ACCESS OF PUBLIC FUNDS:
The members can take loans from the Nidhi Company at a cheaper rate than loans from banks and Financial Institutions and the process of obtaining loan are much more convenient and quicker.
5. LESS REGULATIONS:
Nidhi companies are governed under the Nidhi Rules, 2014 only. Ministry of Corporate Affairs is the regulating authority controlling the activities and operations of Nidhi.
MINIMUM REQUIREMENTS TO REGISTER NIDHI COMPANY
1. UNIQUE NAME OF COMPANY:
The proposed name of the company should be unique one and should not be similar or resemble with an existing company or LLP or Registered Trademark or Trademark applied for.
2. CAPITAL REQUIREMENT:
There is no requirement of minimum Paid up capital to register and listed a Nidhi Company. Investment can be made as per requirements of business.
3. MINIMUM SEVEN PERSONS:
A Nidhi Company can be registered by at least seven persons, who shall act as the shareholders and Directors of the company and out of which at Least One director must be resident in India.
4. MAIN OBJECTS OF THE COMPANY:
Main Objects of Nidhi Company shall be cultivating the habits of savings among its members, lending and borrowing money to its members.
DOCUMENTS REQUIRED TO REGISTER PUBLIC COMPANY
•Photograph of All Directors and Shareholders
•Self attested Copy of Address Proof viz. Bank Statement/Electricity Bill/Mobile Bill/Telephone Bill, any one
•Pan Card of All Directors and Shareholders
•Rent Agreement/Ownership Documents and Utility Bill of the Registered Office of the Company
•ID proof viz, Adhar Card/Voter ID/DL/Passport, any one of All Directors and Shareholders
•E-mail ID/Mobile No/Place of Birth/Educational Qualification/Duration of Stay etc.