Nidhi Company

"Nidhi" means a company which has been incorporated as a Nidhi with the object of cultivating the habit of thrift and savings amongst its members, receiving deposits from, and lending to, its members only, for their mutual benefits.

A minimum of three directors are required to establish a Nidhi Company and the maximum amount cannot exceed beyond fifteen.

The minimum authorized capital to start should be Rs. 500000(US $7549 approx) and it can be increased to any amount (no upper limit). This money is deposited in your company bank account at your disposal.

Once a Company is incorporated, within a period of one year from the commencement, the Nidhi Company must meet all of the following criteria.

• Not have less than two hundred members (Shareholders)
• Have Net Owned Funds (NOF) of ten lakh rupees or more
• Have unencumbered term deposits of not less than ten per cent of the outstanding deposits
• Have a ratio of Net Owned Funds to deposits of not more than 1:20

It usually takes 35-45 working days to register a Nidhi Company

Yes, the company incorporation process is online. You can email / upload us the required documents.

Yes, another company can also be a shareholder in Nidhi Company.

The documents requirements are as follows

• Pan Card
• ID proof- Any one (Voter ID / Aadhar Card / Driving License / Passport)
• Address Proof- Any one (Electricity Bill / Telephone Bill / Mobile Bill / Bank Statement)

Yes, a salaried person become a director, there are no legal bondages in this but you may have to go through with your employment agreement if it contains any restrictions on doing so.

Once a Company is incorporated, it will be active and in-existence as long as the annual compliances are met with regularly. In case, annual compliances are not complied with, the Company will become a Dormant Company and maybe struck off from the register after a period of time. A struck-off Company can be revived for a period of up to 20 years.

No you can open a company to your residential address there is no requirement to have a commercial place to open up a company.

For Registered Office Address

• Rent agreement along with latest rent receipt (in case the premises are rented)
• House tax receipts (in case premises are owned)
• Electricity bill
• NOC from the Owner (Format will be shared once your company name approved)

No, as per the restriction mentioned in the Nidhi rules no nidhi company can do the busienss of asset financing.

First ensure the name is not similar to any other Private limited, OPC, LLP or Public limited company. Also, do check if the name is not a registered trademark taken by anybody under the IP act. Also, make sure the name is not too generic to be accepted by the ROC land also, try not to use abbreviations, adjectives. While choosing the name make sure that name should contain the objective of the business like if the objective is I then word is Technology, technosoft, IT consultancy.

Also, make sure the name is not too generic to be accepted by the ROC land also, try not to use abbreviations, adjectives.

While choosing the name make sure that name should contain the objective of the business like if the objective is IT then the name should contain Technology, Technosoft, IT consultancy.