Nidhi Company

HOW TO REGISTER NIDHI COMPANY ONLINE

An excellent option for persons looking to save money and lead a thrifty lifestyle.

One DSC & three DINs
  The directors must be registered with the MCA
Company Name Reservation
  We will then help you pick a unique name
RBI Approval
  We will get in principle approval from RBI

Online NIDHI Registration – An Overview

Any entrepreneur who wants to start a business in the food sector, be it food processing or food manufacturing, packaging or distributing, has to register for Food Safety and Standard Authority of India FSSAI.
FSSAI monitors these businesses under the guidelines and regulations listed in FSSAI Act 2006.
With expert assistance from Startupclues,

Get an FSSAI license in the quickest possible way in only 4 simple steps
  Guidance on selecting the food license types
  Verification of your FSSAI registration documents
  Filing your online FSSAI application
  Procurement of FSSAI food licence

Documents Required for Nidhi Company Registration

TO BE SUBMITTED BY ALL DIRECTORS
  Self-attested copy of PAN Card
  Self-attested copy of Driver’s License/ Voter ID/ Aadhaar Card/Passport
  Self-attested copy of Bank Statement/ Telephone Bill/Mobile Bill/ Electricity Bill
  Passport-size Photograph
  Specimen Signature Certificate

Basics of a Nidhi Company
Regulated by MCA & RBI
The financial dealings and all the registration processes of a Nidhi company are regulated by the Ministry of Corporate Affairs. The deposit acceptance activities conducted by the Nidhi Company also come under the scanner of Reserve Bank of India and the latter has the rights to look into the financial dealings. Nidhi companies are only allowed deposits which are over six months and less than five years old.

Number of Members
A Nidhi Company must accumulate 200 members within a year of its formation.If it fails to do so, it needs to apply for permission to extend the time limit to acquire more members. Three of its members will be appointed as directors and there must be seven stockholders on inception.

Equity Capital
A Nidhi Company must have an equity share capital of Rs. 5 lakh on inception. This entire amount must be paid-up. Moreover, 10% of the total deposit collected from members must be in a fixed deposit in a nationalised bank.

Advantages of Nidhi Company

Cheaper to Borrow
As a member, one can borrow money at a minimum rate, relative to the rate at which banks lend money.This can be a major advantage in times of need, as different individuals in the mutual benefit society are likely to need funds at different points in time.

Encourages Savings
It encourages all its members to save money and encourages a thrifty lifestyle. A Nidhi company, after all, is a mutual benefit society wherein members can lend or borrow money and accept financial aid amongst them.

Fewer Complications
Borrowing and lending to known persons, where the procedure is fixed, is much less complicated than dealing with banks or in an informal setting. A Nidhi Company enables its members to unlock the potential of their money and gain from lower interest rates when they require money themselves.

What is Included In Package?

Eligibility Consultation

Document Preparation

Application Drafting

Application Filing

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