Nidhi Company Registration in Delhi

Posted by Registrationwala on April 26th, 2017

Nidhi Company is a form of company meant for habit of saving fund between the member of the company. It has been derived from Hindi word Nidhi which means “fund”. Nidhi companies are type of companies registered under Companies Act, 2013.It is a Company consist of investment structure and realignment of funds within a growing group of the member who benefits from the returns at fixed duration.

Features of a Nidhi company

• Company’s work is to borrow and lend money. This can only be done between members.
• Deals are restricted between the members and membership is limited to individuals.
• The loan can be approved and deposits can be accepted between its members.
• Entry can into any partnership arrangement in it’s borrowing and lending activities.
• Companies do not require to conduct any activities related to chit funds, leasing, hire purchase.
• The company is are highly localized and mostly single office institution.

Benefits of Nidhi Company

• It is the cheapest and easiest form of NBFC and can be easily formed in Delhi.
• It is a Secured means of investment.
• Lower and middle-class savings are popularly promoted in Delhi.
• External involvement or accept deposits are not required in Delhi.

Requirements to form a Nidhi Company in Delhi

• DSC-Digital Signature Certificate of all the Directors.
•  DIN-Director identification Number of all the Directors.
• Copy of a PAN card
• Copy of Id Proof(Aadhar Card, DL, Passport, Voter id)
• 2 Passport size photograph.
• Proof registered office address (Electricity Bill, Phone Bills,etc.)
• Proof registered rented office address (Bills and Rent Agreement with rent receipt).

Registration process of a Nidhi Company Delhi?

• Initially DSC and DIN are applied for filing the registration documents and form is filled.
• Verification and  approval of the Name-Reservation of the company name are done in this process.
• Prepare appropriate Memorandum of Association and Article of Association.
• Make the Application of Incorporation.  
• RBI approval is not necessary for the Nidhi Registration in Delhi.

Term and Conditions in Nidhi Company Delhi

• There must be minimum of 3 directors and 7 members including subscribers for incorporation.
• There should be at least 200 members or shareholders within a particular time period from its commencement.
• There should be minimum of Net owned funds of Rs 10 lacs or above
• There should not exceed of 20times from its net owned funds.
• Company can only issue right shares in Delhi.
• Company should allow any new preference share anytime.
• Another company can be acquired by purchase of securities or controls composed of the board of directors other companies.
• The company cannot pay any brokerage or incentive for mobilizing deposits from members.