NIDHI COMPANY
Nidhi Company Registration
Nidhi Company is a type of Non-Banking Financial Company (NBFC) that deals with accepting deposits and lending money to its members only. Ideal for mutual benefit financial societies.
What is a Nidhi Company?
Nidhi Company is incorporated under Section 406 of Companies Act, 2013. It functions as a mutual benefit society that cultivates the habit of thrift and savings among its members. It can only transact with its members – accepting deposits and providing loans.
Key Features
- ✓ Members: Minimum 200 within 1 year
- ✓ Directors: Minimum 3
- ✓ Capital: Minimum ₹5 Lakhs paid-up
- ✓ Business: Only with members
- ✓ Net Owned Funds: Minimum ₹10 Lakhs within 1 year
- ✓ Registration Time: 15-20 days
Benefits
- ✓ Mutual benefit for members
- ✓ Regulated by MCA (not RBI initially)
- ✓ Can accept deposits from members
- ✓ Promote savings habit
- ✓ Provide loans to members
- ✓ Limited liability protection
Compliance Requirements
- • Must achieve 200 members within 1 year
- • Net Owned Funds of ₹10 lakhs within 1 year
- • Ratio of deposits to members should be 1:20
- • Annual filing with MCA
- • Cannot transact with non-members
Documents Required
PAN & Aadhaar of Directors
Address Proof
Office Address Proof
MOA & AOA
DSC of Directors
Register Your Nidhi Company
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