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Nidhi Companies are registered Limited Companies involved in taking deposits and lending to their members. The activities of a Nidhi Company does fall under the purview of Reserve Bank of India, as it is similar to an NBFC. However, as Nidhi Companies ONLY deal with shareholder-members money, RBI has exempted Nidhi Companies from the core provisions of the RBI and other regulations applicable to an NBFC.
Registering as a Nidhi Company offers many benefits. It helps:
Here’s everything you need to know:
At least seven members –three should be designated as the directors.
It should acquire a minimum of 200 members within one year of commencement.
Minimum Share Capital Requirement is ₹5,00,000
Net Owned Funds (NOF) must be increased to Rs 10 lakhs within a year of registration.
At least 10% of its outstanding deposits should comprise un-encumbered term deposits
The prescribed NOF to deposits ratio should be 1:20, where 10% of the total deposits are in a fixed deposit account of a nationalized bank.
Director's Documents
Director's PAN
Director's ID Proofs
Aadhaar Card or Voter ID or Passport or Driver's License
Address Proofs:
Latest one month Savings Bank statement or
Latest Telephone Bill on his own name or
Latest Moblie Bill on his name or
Latest Electricity Bill on his own name.
Director's latest passport size photograph
Director's Email ids
Incase of Foreign directors, International Passport is mandatory
Company Documents
Registered Office Address Proof: Latest Power Bill
No-objection letter from the Landlord.
Rental Agreement from the landlord if the premises are rented.
Company email id.
Step 1: Reservation of Company’s Name
Step 2: Collection of Directors and Company reg office docs
Step 3: Procuring Digital Signature Certificate
Step 4: Writing MoA & AOA
Step 5: Application for the Incorporation of Company
Step 6: Approval of Company registration
LLP
Step 1: Reservation of LLP’s Name
Step 2: Collection of Partners and LLP reg office docs
Step 3: Procuring Digital Signature Certificate
Step 4: Application for the Incorporation of LLP
Step 5: Approval of LLP registration
Step 6: Writing LLP Deed
Step 7: Filing of LLP Deed
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