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Nidhi Company (MCA Registration)

About of Service

  • What is a Nidhi Company?: A Nidhi Company, as per the Companies Act, 2013, is a non-banking financial institution (NBFC) that primarily works to cultivate the habit of thrift and savings among its members. It lends and borrows funds only to and from its members within the company's framework.

  • Scope of Activities: Nidhi Companies are allowed to engage in activities such as accepting deposits from its members and lending to its members. They are restricted from engaging in any other business activities apart from these core activities.

  • Eligibility Criteria: To register as a Nidhi Company, the company must be incorporated as a public company and have a minimum of seven shareholders and three directors. Additionally, the company must have a minimum net owned funds of Rs. 10 lakhs or more.

  • Preparation and Documentation: The following documents are required for Nidhi Company registration:

    • Memorandum of Association (MOA) and Articles of Association (AOA)
    • Proof of registered office address
    • Identity and address proofs of directors and shareholders
    • Consent of directors
    • Digital signatures of directors
    • Name approval certificate
    • SPICe+ (Simplified Proforma for Incorporating Company Electronically Plus) form

  • Name Reservation: The proposed name for the Nidhi Company must comply with the naming guidelines prescribed by the MCA. Once the name is finalized, it can be reserved through the MCA portal.

    • Uses and Benefits
    • Understanding Nidhi Company: Nidhi Companies are non-banking finance corporations recognized under Section 406 of the Companies Act, 2013, which primarily deal with borrowing and lending money among their members. They promote the habit of thrift and savings among their members.
    • Preparation and Documentation: Gather all necessary documents required for Nidhi Company registration, including: Memorandum of Association (MOA) and Articles of Association (AOA): These documents outline the company's objectives, rules, and regulations governing its operations. Proof of Registered Office Address: Provide documentary evidence of the registered office address of the Nidhi Company. Identity and Address Proofs of Directors and Shareholders: Copies of identity proofs (such as PAN card, Aadhaar card, passport) and address proofs (such as utility bills, bank statements) of all directors and shareholders. Consent of Directors: Signed consent forms from all directors agreeing to act as directors of the Nidhi Company. Digital Signatures: Obtain digital signatures for filing forms electronically with the MCA.
    • Name Reservation: Check the availability of the desired Nidhi Company name and reserve it through the MCA portal. Ensure that the proposed name complies with the naming guidelines prescribed by the MCA.
    • Incorporation Form: Complete and file the SPICe+ (Simplified Proforma for Incorporating Company Electronically Plus) form online on the MCA portal. This form includes various registrations and applications, including DIN (Director Identification Number), PAN (Permanent Account Number), and TAN (Tax Deduction and Collection Account Number).
    • Payment of Fees: Pay the prescribed fees for Nidhi Company registration and other statutory filings online through the MCA portal.

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    Charges Structure & Our Scope of Work

    Additional Disclosure

    1. Company Name and Registration Details:

      • Provide the legal name of the Nidhi Company as registered with the Registrar of Companies (RoC).
      • Mention the Corporate Identity Number (CIN) issued by the RoC upon registration.

    2. Memorandum and Articles of Association (MoA & AoA):

      • Outline the objectives and purposes of the Nidhi Company as specified in its Memorandum of Association (MoA) and Articles of Association (AoA).
      • Describe any amendments made to the MoA and AoA over time and their implications for the company's operations.

    3. Board of Directors and Management:

      • Disclose the names and roles of the directors appointed to manage the affairs of the Nidhi Company.
      • Provide details of any changes in the board composition or key management personnel since the company's incorporation.

    4. Shareholding Pattern:

      • Detail the shareholding pattern of the Nidhi Company, highlighting the distribution of shares among its members.
      • Explain any changes in the shareholding structure and the rationale behind such changes.

    5. Financial Statements and Audit Reports:

      • Present the audited financial statements of the Nidhi Company, including the balance sheet, profit and loss statement, and cash flow statement.
      • Provide details of the statutory audit conducted by an independent auditor and compliance with accounting standards.

    6. Compliance with Regulatory Requirements:

      • Demonstrate compliance with the provisions of the Companies Act, 2013, applicable to Nidhi Companies.
      • Outline any penalties, fines, or legal actions faced by the Nidhi Company for non-compliance with regulatory requirements.

    7. Activities and Operations:

      • Describe the primary activities and operations undertaken by the Nidhi Company, particularly focusing on its core business of borrowing and lending among its members.
      • Highlight any additional services or activities undertaken by the company as permitted under the Nidhi Rules.

    8. Corporate Governance Practices:

      • Provide an overview of the corporate governance framework adopted by the Nidhi Company, including board committees, internal controls, and risk management practices.
      • Discuss initiatives taken to enhance transparency, accountability, and ethical conduct within the organization.

    Terms & Conditions

    Documents & Detail Required

  • Memorandum of Association (MOA): This document defines the objectives and scope of activities of the Nidhi Company. It outlines the rules and regulations governing the company's operations.

  • Articles of Association (AOA): The AOA lays down the internal rules, regulations, and procedures for the management of the Nidhi Company. It includes provisions regarding the rights and duties of shareholders, directors, and officers.

  • Proof of Registered Office Address: Provide documentary evidence of the registered office address of the Nidhi Company. This could include a rental agreement, lease deed, or ownership documents.

  • Identity and Address Proofs of Directors and Shareholders: Copies of identity proofs (such as PAN card, Aadhaar card, passport) and address proofs (such as utility bills, bank statements) of all directors and shareholders.

  • Consent of Directors: Signed consent forms from all directors agreeing to act as directors of the Nidhi Company. This ensures that all directors are aware of and consent to their roles and responsibilities within the company.

    • Please Note Down Your Querie

    OUR REVIEW

    FAQ'S

    What is a Nidhi Company?

    A Nidhi company is a type of non-banking finance company (NBFC) recognized under the Companies Act, 2013. It primarily deals with borrowing and lending money among its members.

    Who can incorporate a Nidhi Company?

    Any person or group of persons willing to incorporate a company that functions on the principles of mutual benefit can register a Nidhi company.

    What are the requirements for Nidhi Company Registration?

    At least seven members. Minimum capital requirement of Rs. 5 lakh. It must have "Nidhi Limited" as part of its name. No Nidhi company shall issue preference shares, debentures, or any other debt instrument by any name or in any form.

    How to register a Nidhi Company with the MCA?

    Obtain Digital Signature Certificate (DSC) for the proposed directors. Apply for Director Identification Number (DIN) for the proposed directors. Reserve a unique name for the company through the RUN (Reserve Unique Name) facility.

    How long does it take to register a Nidhi Company?

    The registration process usually takes around 15-20 days, depending on the processing time of the MCA and the completeness of the documents submitted.