Nidhis provide banking services to the remote and rural public of India which still is based in far-off locations and is, hence, devoid of accessing finance from national banks and NBFCs.
The main aim of such companies is to 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
A Nidhi company enjoys better credibility when compared to Mutual Benefit Organizations. Nidhi companies are registered and monitored by the Central Government. Mutual Benefits Organization are on the other hand governed and monitored by State Governments.
The Nidhi companies are formed by, managed by, and provide benefits to their members only. The outsider is not allowed to intervene in the working of the Nidhi’s, neither allowed to deposit money or avail credit from these companies.
Liability of Directors and shareholders of the Nidhi Company is limited. In case the company suffers from any loss and faces financial distress in the course of its business activity, the personal assets of any of the Directors or members are not at risk of being seized by banks, creditors, and government.
After the Amendment in Companies act 2013, Nidhi Companies are overseen by Nidhi Company Rules
Step-1 Choose a unique name for your company using RUN.
Step-2 Apply for DSC for directors.
Step-3 Drafting of DIR-2, INC-9 & Other documents.
Step-4 Drafting of Spice, eMOA, eAOA & Agile.
Step-5 Online filing of Spice, eMOA, eAOA & Agile.
Step-6 Get Certificate of Incorporation, PAN & TAN of your company.
· At least 3 Directors but maximum can be 15 directors , Out of them 1 must be resident of India and 7 Subscribers.
· Name of company should be unique. The purposed name should not match with any existing company or trademarks in India.
· There is a requirement of having 5 Lakhs Authorised Share Capital.
· Commercial space, residential space or rented space can be Registered office of company.
· There is no minimum education requirement for directors.
1. Pan Card of directors & subscribers(Scanned Copy)
2. Aadhar Card of directors & subscribers (Scanned Copy)
3. Voter Id / Passport / Driving License of directors & subscribers (Scanned Copy of Any One Document)
4. Latest bank statement / Telephone Bill / Mobile Bill / Electricity Bill /Gas Bill (must be less than 2 months old ) of directors & subscribers (Scanned Copy of Any One Document)
5. For Registered Office of Company recent copy of electricity bill or property tax receipt or water bill or rent agreement along with latest utility bill or no objection certificate from landlord are required.
6. For foreign nationals apostilled / notarized copy of passport require
1. All documents must be valid.
2. Registered office need not to be a commercial space , it can be residential space
Pay 50% Advance & 25% at the time of final submission and rest 25% at the time of registration before giving handover to the Incorporation Documents. Govt Fees advance only, If your plan is changed in between 100% fees is refundable after deducting the Govt Fees paid
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