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Nidhi Company Registration

Rs.50000*

What is a Private Limited Company?

A private limited company is a company privately held for small businesses. This type of business entity limits owner liability to their shareholdings, the number of shareholders to 200, and restricts shareholders from publicly trading shares.

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DOCUMENTS REQUIRED FOR FILING SPICE+ (INC-32)

  1. The following documents must be filed with SPICe (INC-32) for a private limited company registration:

  2. A. Where director and subscriber are Indian Nationals

  3. An Affidavit on a Stamp Paper is to be given by all the subscribers of the Company to state their willingness to become the shareholders of the Company

  4. Proof of office address – Rental Agreement or Ownership Deed such as Sale Deed

  5. Copies of utility bills such as electricity bill, water bill or gas bill not older than two months

  6. Copies of utility bills that are not older than two months

  7. Copy of approval in case the proposed name of the company contains any word(s) or expression(s) that require approval from central government

  8. If the proposed name is based on a registered trademark or is subject matter of an application pending for registration under the Trade Marks Act, then it is mandatory to attach the trademark registration certificate or trademark application copy

  9. NOC from the owner of the property, if the registered office is on a rented/leased property.

  10. In case of subscribers/ Director does not have a DIN, it is mandatory to attach, proof of identity and address proof of the subscribers

  11. B.Where director/subscriber is a foreign National

  12. Passport

  13. Address proof: It can be driving license, residence card, bank statement, Government issued form of identification containing an address

OUR PVT LTD REGISTRATION PACKAGES INCLUDES

  1. DIN and DSC for 2 Directors

  2. Drafting of MoA & AoA

  3. Government Stamp duty

  4. Company Incorporation Certificate

  5. Company PAN and TAN

  6. Certificate of commencement of business (INC 20A)

  7. ESIC and PF Registration

All about Nidhi Registration

Nidhi Company is a type of Non-Banking Financial Company (NBFC). It is formed to borrow and lend money to its members. It inculcates the habit of saving among its members and works on the principle of mutual benefit. These companies typically operate in the southern part of the country. Nidhi Company isn’t required to receive the license from Reserve Bank of India (RBI), hence it is easy to form. It is registered as a public company and should have “Nidhi Limited” as the last words of its name.

Activities Prohibited in a Nidhi Company
Nidhi Company can’t deal with chit funds, hire-purchase finance, leasing finance, insurance or securities business. It is strictly prohibited from accepting deposits from or lending funds to, any other person except members.
Also, it can’t advertise itself to ask for any deposits.
Number of members
Minimum of seven members is required to start a Nidhi Company out of which three members must be the directors of the company.
Share Capital and Owners’ Funds
A minimum of 5 lakh rupees, is required as the equity share capital to start a Nidhi Company. Nidhi Company can’t issue preference shares.


Forms to be filed
There are two forms which are required to be filed.

  1. INC 9

  2. DIR 2


Conditions to be fulfilled for getting ‘Nidhi’ status
Within one year of its registration

  1. Nidhi Company should have minimum 200 members within one year from commencement

  2. Also, the net owned funds should be 10 lakh rupees or more. Net owned funds = Equity share capital + free reserves (-) accumulated losses (-) intangible assets

  3. Unencumbered term deposits must be 10% or higher of the outstanding deposits

  4. The ratio of net owned funds to deposits shouldn’t be more than 1:20

If Nidhi Company satisfies all above conditions, it should file NDH-1 along with prescribed fees within 90 days from the end of the first financial year after incorporation. The form must be duly certified by practicing CA/ CS/ CWA.
Extension of another financial year can be availed upon submission of NDH-2 to the Regional Director within 30 days from the end of the first financial year.
If even after the second financial year, it doesn’t fulfill the requirements, it can’t accept deposits till it complies with the provisions, and also penalty will be imposed.
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