NIDHI COMPANY REGISTRATION

Nidhi Company is a 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.. It is registered as a public company and should have “Nidhi Limited” as the last words of its name..

List of documents required for Nidhi Company Incorporation in India

• Copy of Pan of All Directors and shareholders
• Copy of Address Proof (Including City, State, Pin code, Country)
• Occupation
• Aadhar Card (Mandatory)
• Copy of Passport as a proof of identity and copy of Electricity bill/ Telephone bill / Bank Statement / Driving License as a proof of address.
• Class-2 Digital Signature.

Procedure For Registering Producer Company

• Minimum 7 members and 3 Directors will be required
• Obtain DSC for all the Director of the Company
• Apply for DIN for all the Directors of the Company
• Application for Name
  • Atleast 3-4 name should be proposed
  • Name shouldn’t be Identical to any of the Existing companies or registered Trademarks. 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 approval shall be attached of such owner of the registered trademark or the applicant of such trade mark for which application for registration is pending.
  • Name Should not be prohibited under Emblems and Names Act,1950

  After applying for name it must be approved by registrar, it takes 2-3 days for the review and to get approval.

• After the Approval of name Registration of Company Process Started

As Name get approved further filling procedure is required to be submitted to Registrar by the promoters

• Share Capital to be introduced. Minimum Share Capital is Rs. 5,00,000.
• Main objects of the Company. In the form of MOA & AOA
• Declaration From Director and Subscriber (INC-9)
• Nature of the Business

Registered office proof(Any of the following)

The Registered document of the title of the premises of the registered office in the name of Company.

The notarized copy of lease/rent agreement in the name of the company along with a copy of rent paid receipt not older than one month:

The authorization from the land lord to use the premises by the company as its registered office or No Objection Certificate.(Mandatory in case of rented or leased)

I. Utility bill (not older than 2 months).

Proof of Identity of Directors(Any one of the following)	Proof of Residential Address of Directors(Any one of the following)
1. Passport (Mandatory in case of persons not residing in India)	1. Passport (Kindly make sure that the address page in passport bears the correct address)
2. Bank Account Statement up to last 3 months	2. Bank Account Statement unto last 3 months.
3. Election Card	3. Election Card
4. Aadhaar Card(Mandatory)	4. Rent Receipt
	5. Utillity Bill(Not older than 2 Month)

Every Nidhi must, within a period of one year from the commencement meet all of the following criteria :

• It must have minimum 200 members,
• It must also ensure that net owned funds are Rs. 10,00,000/- or more Net owned fund = Equity share Capital + Free Reserves – Accumlated losses – Integible Assets
• Unencumbered term deposits must be 10% or higher of the outstanding deposits
• The ratio of net owned funds to deposits shouldn’t be more than 1:20