Registration For Nidhi Company

Nidhi Company is private unit not meant for public use that is formed with investors to secure their funds. These businesses operate to provide limited number of Members-ONLY banking services, such as, deposits, loans, etc. When you’re opening this unit, it should be registered following the norms of NBFC (Non-Banking Financing Company) as regulated under Section 406 of Companies Act, 2013. We’ll make it easy for you as you avail our most guaranteed Nidhi Company Registration Package. We provide fast and affordable registration service that will satisfy you. Go through its details and know how it works THE BEST.

Buy This Service Now!

We are currently experiencing a technical issue that prevents us from sending OTP to mobile devices. However, the email OTP functionality is unaffected and working properly. Therefore, please check your email for the OTP.

Nidhi Company Registration in India – An Overview

Sometimes, you succeed in building a group of investors who agree to invest their capital for the purpose of forming a Members-Only fund to deposit money and take loans, then you start a Nidhi Company. Nidhi Company functions as NBFC (Non-Banking Financing Company) regulated as per Section 406 of Companies Act, 2013, with the following features:

It is formed to get mutual benefits and it helps to maintain the habit of savings only for its own members (shareholders).

Its basic rules are:

Should be composed of at least 7 members of which 3 should be directors (similar to Limited Company). Within 12 months of registration, minimum number of members should be 200. Minimum paid up equity share should be INR 5 lakh at the time of registration and within 1 year, should be raised to at least INR 10 lakhs.

Note: In case, the company lacks in its fund as mentioned above within 1 year, it can request for extension of time to the Regional Director through Form NDH-2 before the end of FY, which will be applicable till next FY ONLY and after that the company cannot make any deposit, in case the fund is still lower than the desired amount.

  • Ratio of NOF to Deposit should be more than 1:20.
  • Ratio of NOF to Deposit should be more than 1:20.
  • It accepts FD, RD and savings. (The rate should not exceed the rate of RBI for NBFCs. Nidhi Company follows the maximum rate of NBFC).
  • It can give loans in against of security only, such as, Gold, Property, Fixed Deposit, etc.
  • Only members can use its fund to borrow and lend money.
  • Guidelines of RBI are exempted for Nidhi Company based on its own structural principles.
  • As per Rule-6 of Nidhi Rules of 2014, Nidhi Company cannot function in these modes:
  • Leasing Finance, Hire Purchase Finance, Chit Fund, Insurance or Acquisition of Securities
  • Accepting loans and give loans to any external individual/corporation
  • Issue preference shares, debentures or some other debt instruments in any form
  • Operating any current accounts
  • It is not entitled to perform vehicle finance business/microfinance business in India.

Benefits of Nidhi Company

  • It is a separate legal entity with limited liabilities. It is solely operated under Nidhi Company Rules.
  • It has better credibility than similar functional units, such as, Trusts, Cooperative Societies, etc.
  • Works under easy regulations as followed under Nidhi Rules 2014. Easy processing process is followed in its operation.
  • Ease to get loans available in cheaper rate than other banks and NBFCs. Such companies operate for those members who have minimum eligibility of availing loans, such as, low wage workers, pensioners, etc.
  • Easy mode of money deposit and encourages the habit of savings amongst the enrolled members ONLY. So, it is somehow secured for investment.
  • No requirement of external involvement and thus there is less possibility of dispute or corruption.
  • Nidhi company provides financial help to the lower and middle-income groups without complex formalities and documentation and it fulfils the needs of lower and middle-income groups, such as, in rural and remote areas, etc.
benefit of Nidhi Company

Documentation for Nidhi Company

  • PAN Details of directors
  • Passport size photograph of directors
  • Copy of Voter ID Card/Aadhaar Card/Ration Card of the directors. Passport (In case of NRIs/Foreigner member)
  • Address proof of directors
  • Address proof of the business space. For rented business space, rental agreement of the same
    Note: The address Proof should not be older than 2 months.
  • Landlord’s NOC, where the business space is located
  • If you own the business space, property papers of the same
  • Electricity/Water Bills of business place

Our Package is Offering You:

  • DIN for all Directors
  • Memorandum of Association/Article of Association (MOA/AOA)
  • Digital Signature for all Directors
  • Name search & Approval
  • Issue of incorporation certificate (CIN)
  • Registration fees
  • Company PAN
  • Company TAN
Nidhi company Package is Offering You

Procedure to Register a Nidhi Company

STEP-1) Ensure the minimum requirement of the company, such as, number of directors, equity shares, etc. and provide director’s basic details, such as, Full Name, Address, Phone number, etc.

STEP-2) Apply for DSC (Digital Signature) & DIN (Director’s Identification Number).
We’ll work for you to get these documents registered.

STEP-3) Name Approval Application and its verification
Name of your Nidhi Company will be approved through MCA.
We’ll associate with you to finalise this document and get it registered successfully.

STEP-4) Submission Of MOA (Memorandum Of Association) & AOA (Article Of Association)
We’ll be working based on the documents you provide to complete this submission. Ensure that objective of your Company should be clearly mentioned as ‘Encouraging the habit of thrift and savings amongst the members only, for their mutual benefits’.

STEP-5) Certificate Of Incorporation
Registrar of Companies will issue your Certificate of Incorporation after all the above documents are successfully registered from our side and the processing fee for Nidhi Company Registration is deposited as provided from your side.

Your Nidhi Company Registration is complete now.....You can apply for PAN and TAN in the name of your Nidhi Company.


FAQs on Nidhi Company Registration

Nidhi company is a type of An Indian non-banking financial institution (NBFC) that is governed under the companies act of 2013. It is formed for the mutual benefit of borrowing money from its members. A Nidhi company does not require a license to operate from the Reserve Bank of India. It should be registered as a public company and its name should end with the “Nidhi Limited”.

Yes. You can invest in a Nidhi company, but certain conditions should meet by the investor. Those are the following- A person should be a citizen of India. Individuals should be above the age of 18 years. Individual Should be a member of the Nidhi company.

No. According to the prescribed guidelines, Nidhi company can provide loans only to its members from its accrued fund. Any individual who is not a member of the Nidhi company can not take a loan from the company.

National Initiative for Development and Harnessing Innovations.

There can be seven members in a Nidhi company and three out of seven members must be directors to start a Nidhi company.

Yes. Deposits made towards the Nidhi company are under the lock and key, safe and secured. Reserve bank of India formulated the rules to make sure the safety and security are completely strong enough.

A Nidhi Company can open only three branches. To open more than three branches, a Nidhi company is required to have approval from the regional director.

Residential address proof, address proof, and PAN details. Passport size photographs. Digital signature (DSC). (DIN) of the company’s directors. (NOC) No objection certificate signed by the landlords. (AOA) Articles of association of the company. Passport and registered office address.

Ajay Singh, Ram Bihari, Devendra Shivhare, and Mahesh Shivram Chaudhary are the directors of the Nidhi company.

No. A Nidhi company works on the regulations of the Nidhi company act,2014. These companies fall under the public limited company. Nidhi company has to relent with two standards, one is the public limited company act 2013, and the other is Nidhi company rules 2014.

No. Nidhi Company does not require any approval for its registration from India's (RBI) reserve bank.

Start my registration
29,999 + GST * ()
*limited time period only.

Our Customers Admire What We Do

Myitronline testimonial PRIYA H, India
 I have been dealing with Myitronline and Gopal Varshney for over a decade now. The firm is highly professional, prompt, efficient and courteous. Its been a pleasure dealing with Gopal and I would highly recommend his services. Keep up the great work !!
Thanks guys!. 
See More Testimonials  
Write a Review