Nidhi Company

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Nidhi Company registration, 8 DSC, 3 DIN 1 RUN Name Approval, MOA, AOA incorporation certificate, PAN, TAN, 50+ document formats , ICICI Bank Zero-Balance Current Account, company kit along with LEDGERS accounting software for providing estimates, invoices, tracking purchases, filing GST returns and generating GST eWay bill. Inclusive of government fees and taxes.

Nidhi Company registration, 8 DSC, 3 DIN, 1 RUN Name Approval, MOA, AOA incorporation certificate, PAN, TAN, 50+ document formats , ICICI Bank Zero-Balance Current Account, hardcopy share certificates, share allotment for up to 200 shareholders, company kit and LEDGERS accounting software for providing estimates, invoices, tracking purchases, filing GST returns and generating GST eWay bill. Inclusive of government fees and taxes.

Nidhi Company registration, 8 DSC, 3 DIN, Name Approval, MOA, AOA incorporation certificate, PAN, TAN, 50+ document formats , ICICI Bank Zero-Balance Current Account, hard-copy share certificates, share allotment for up to 200 shareholders, company Kit, trademark Filing along with LEDGERS accounting software for providing estimates, invoices, tracking purchases, filing GST returns and generating GST eWay bill. Inclusive of government fees and taxes.

All Inclusive Pricing - No Hidden Fee

Pay as you go grow pricing

Basic
all inclusive fees
  • 8 Class 2 Digital Signatures 1
  • 3 Director Identification Numbers
  • 1 RUN Name Approval 2
  • Upto 10 Lakhs Authorized Capital 3
  • Incorporation Fee
  • Stamp Duty 4
  • Incorporation Certificate
  • Current Account Opening
  • PAN & TAN
  • 50+ Document Formats
  • Incorporation Kit
  • Hard-copy Share Certificates
  • GST Registration
  • Premium LEDGERS Accounting Software 5
  • GST eWay Bill Software
Standard
all inclusive fees
  • 8 Class 2 Digital Signatures 1
  • 2 Director Identification Numbers
  • 1 RUN Name Approval 2
  • Upto 10 Lakhs Authorized Capital 3
  • Incorporation Fee
  • Stamp Duty 4
  • Incorporation Certificate
  • Citi Bank Current Account
  • PAN & TAN
  • 50+ Document Formats
  • Incorporation Kit
  • Hard-copy Share Certificates
  • GST Registration
  • Premium LEDGERS Accounting Software 5
  • GST eWay Bill Software
  • Share Allotment for upto 200 shareholders
Premium
all inclusive fees
  • 8 Class 2 Digital Signatures 1
  • 2 Director Identification Numbers
  • 1 RUN Name Approval 2
  • 1 Lakh Authorized Capital 3
  • Incorporation Fee
  • Stamp Duty 4
  • Incorporation Certificate
  • Current Account Opening
  • Online Payment Gateway 5
  • GST Registration
  • ESI & PF Registration
  • PAN & TAN
  • Incorporation Kit
  • Hard-copy Share Certificates
  • Premium LEDGERS Software 6
  • GST eWay Bill Software
  • Share Allotment for upto 200 shareholders
  • Trademark Registration

  • Class 2 digital signatures with 2 year validity on secure USB token.
  • Upto 4 name options can be given in 1 RUN name approval request.
  • Authorised capital is the amount of shares a company can issue at anytime and can be increased further in the future. Paid-up capital is the amount invested by shareholder and can be even Rs.2.
  • In case of Rs.10 lakh authorised capital, stamp duty of Rs.5120 (on actuals) will be chargeable extra for the state of Gujarat. Rs.5510 will be the additional stamp duty charges for state of Rajasthan. In case of incorporation in Madhya Pradesh, an additional stamp duty of Rs.7550 will be applicable. In case of incorporation in Punjab, an additional stamp duty of Rs.15025 will be applicable. In case of Kerala, an additional stamp duty of Rs.3025 will be applicable.
  • Premium LEDGERS Accounting Software with GST Portal Integration and eWay Bill Software.
  • Statutory Auditor fee is payable on actuals directly to the Independent Auditor appointed by the Board of Directors. Bizcruise will only be responsible for accounting, preparation of financial statements and filing of returns on behalf of the Company.

9 Articles to Read Before Indian Subsidiary

Nidhi company is created for cultivating the habit of savings among its members. In this article, we cover the regulations governing Nidhi Company in India.
Procedure for Nidhi Company Registration. Nidhi Company allows lending and deposit taking amongst members. Bizcruise can help a register Nidhi Company.
List of documents required for company registration in India. Documents required for Indian or Foreign Director, registered office and shareholder in company.
A brief look at the process surrounding a NBFC registration and the regulations which govern its operations.
NBFC license is required for companies involved in financial activity. The requirement and procedure for obtaining NBFC license in India is covered in depth.
In this article on private limited Company compliances, we review legal and regulatory compliances that a private limited company must comply with in India.
GST registration procedure, eligibility and documents required. Entities with an annual revenue of more than Rs.20 lakhs must obtain GST registration. Complete your GST registration online with expert help from Bizcruise and obtain your GSTIN in less than a week from the comfort of your home.
File GST return online through Bizcruise with GST Expert Support. You can prepare and file GSTR-1, GSTR-2, GSTR-3 and GSTR-4 return online through Bizcruise. In addition to filing GST returns, you can also issue GST invoices and record purchases on LEDGERS to automatically file GST returns.
Online trademark registration, trademark search, documentation and Expert help for TM filing. Easily submit your trademark application for just Rs.5988 in less than a day from the comfort of your home. Bizcruise provides a range of trademark services from trademark filing to objection handling.

Private Limited Company Bank Account Opening

Open a new or link your existing ICICI bank current account with LEDGERS for seamless bank account reconciliation, account balance check and sending of payments through NEFT / RTGS / IMPS.

Bank Account Opening

Opening a current account for a private limited company is easier when compared to opening of current account for a sole proprietorship firm as a company is a registered legal entity – recognized by law. Therefore, once a company is incorporated, a bank account can be opened in the name of a company with the incorporation certificate of the company and identity/address proof of the Directors.

Open a new or link your existing DBS bank business account with LEDGERS for seamless bank account reconciliation, account balance check and sending of payments through NEFT / RTGS / IMPS.

A minimum of 3 directors and 7 shareholders are required to register a Nidhi company in India.

The Director needs to be over 18 years of age and must be a natural person.

An address in India where the registered office of the Company will be situated is required. The premises can be a commercial / industrial / residential where communication from the MCA will be received.

No, you will not have to be present at our office or appear at any office for the registration of a Nidhi Company. All the documents can be scanned and sent through email to our office. Some documents will also have to be couriered to our office.

A Digital Signature establishes the identity of the sender or signee electronically while filing documents through the Internet. The Ministry of Corporate Affairs (MCA) mandates that the Directors sign some of the application documents using their Digital Signature. Hence, a Digital Signature is required for all Directors of a proposed Nidhi Company.

Identity proof and address proof is mandatory for all the proposed Directors of the Nidhi Company. PAN Card is mandatory for Indian Nationals. In addition, the landlord of the registered office premises must provide a No Objection Certificate for having the registered office in his/her premises and must submit his/her identity proof and address proof.

IndiaFilings.com can incorporate a Nidhi Company for in 20-30 days. The time taken for registration will depend on submission of relevant documents by the client and speed of Government Approvals. To ensure speedy registration, please choose a unique name for your Company and ensure you have all the required documents prior to starting the registration process.

Once a Nidhi Company is incorporated, it will be active and in-existence as long as the annual compliances are met with regularly. A Nidhi Company must have a minimum of 200 shareholders and comply with other criteria within one year of incorporation. In case, annual compliances are not complied with, the Nidhi Company will be asked to refund the deposits.

Director Identification Number is a unique identification number assigned to all existing and proposed Directors of a Company. It is mandatory for all present or proposed Directors to have a Director Identification Number. Director Identification Number never expires and a person can have only one Director Identification Number.

Nidhi Company Registration

Nidhi Companies in India are created for cultivating the habit of thrift and savings amongst its members. Nidhi companies are allowed to borrow from its members and lend to its members. Therefore, the funds contributed to a Nidhi company are only from its members (shareholders). Hence, Nidhi companies are mainly used to cultivate a habit of savings amongst a group of people.

Basics of Nidhi Company

Nidhi Companies are registered Limited Companies involved in taking deposits and lending to its members. The activities of a Nidhi Company does fall under the purview of Reserve Bank of India, as it is similar to a NBFC. However, as Nidhi Companies ONLY deal with its shareholder-members money, RBI has exempted Nidhi Companies from the core provisions of the RBI and other regulations applicable to a NBFC.

Restrictions on Nidhi Company

The following are some of the restrictions a Nidhi Company is subject to under  Nidhi Rules, 2014. As per Rule 6 of Nidhi Rules, 2014, a Nidhi Company shall NOT:

  • Carry on the business of chit fund, hire purchase finance, leasing finance, insurance or acquisition of securities issued by any body corporate;
  • Issue preference shares, debentures or any other debt instrument by any name or in any form whatsoever;
  • Open any current account with its members;
  • Acquire another company by purchase of securities or control the composition of the Board of Directors of any other company in any manner whatsoever or enter into any arrangement for the change of its management, unless it has passed a special resolution in its general meeting and also obtained the previous approval of the Regional Director having jurisdiction over such Nidhi;
  • carry on any business other than the business of borrowing or lending in its own name: Provided that Nidhis which have adhered to all the provisions of these rules may provide locker facilities on rent to its members subject to the rental income from such facilities not exceeding twenty per cent of the gross income of the Nidhi at any point of time during a financial year.
  • Accept deposits from or lend to any person, other than its members;
  • Pledge any of the assets lodged by its members as security;
  • Take deposits from or lend money to any body corporate;
  • Enter into any partnership arrangement in its borrowing or lending activities;
  • Issue or cause to be issued any advertisement in any form for soliciting deposit: Provided that private circulation of the details of fixed deposit Schemes among the members of the Nidhi carrying the words “for private circulation to members only” shall not be considered to be an advertisement for soliciting deposits.
  • Pay any brokerage or incentive for mobilising deposits from members or for deployment of funds or for granting loans.

Nidhi Company Registration

To start a Nidhi Company in India, the first step is to incorporate a limited Company, under the Companies Act, 2013. Hence, a minimum of three Directors and seven shareholders will be required to start the Limited Company incorporation process. During incorporation of the Nidhi company, care must be taken to ensure that the object of the Limited Company mentioned in the  Memorandum of Association is that of cultivating the habit of thrift and savings amongst its members, receiving deposits from, and lending to, its members only, for their mutual benefit.

 

Post incorporation of the Limited Company, 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; and
  • Have a ratio of Net Owned Funds to deposits of not more than 1:20.

“Net Owned Funds” means the aggregate of paid up equity share capital and free reserves as reduced by accumulated losses and intangible assets appearing in the last audited balance sheet.

In the case at the end one year from commencement the Nidhi Company is not able to meet the above requirement, the Company may within thirty days from the close of the first financial year, apply to the Regional Director in Form NDH-2 for extension of time.

If even after the second financial year the Nidhi Company is not able to meet the requirements for a Nidhi Company, then the Nidhi Company shall not accept any further deposits from the commencement of the second financial year till it complies with the provisions for operating as a Nidhi Company and be liable for penal consequences.