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As the Hindi word “Nidhi” means finance or funds, the Nidhi Company is a Non-Banking Financial Company (NBFC) is a Company which aims to borrow and lend money to its users. This kind of comPANies work on the principles of mutual benefit and can only deal with anyone else rather than their members.  


Nidhi Company formation is a body which does not require the RBI rules and regulations. The Company which establishes its name like this has to end with a suffix “Nidhi Limited”. The Nidhi Company registration online feature allows you to do al the pROCesses at the ease at your home.


How to start Nidhi Company in India 


Before we list down the steps, one thing which one must know is that registration this kind of a firm is bar easy and is completed within 10 to 15 days time sPAN. 


Nidhi Company registration documents are as follows: 


  1. ID proof such as AADHAR and PAN along with their pictures.
  2. NO objection certificate which is signed by the owner.
  3. Address proof of the members.
  4. DIN and Digital signatures (DSC)
  5. Memorandum of Association of the Company (MOA)
  6. Articles of Association of the Company (AOA)


The forms which are to be filled for the registration pROCess are INC 9 and DIR 2. In addition, there are certain conditions which are to be fulfilled for the status of ‘Nidhi. These are as follows:


  1. This firm should have a minimum of 200 members within a years’ sPAN.
  2. The ratio of net owned funds to deposits should be maintained with a ratio of 1:20.
  3. The net owned worth of the firm should be more than 10 lakhs within one year after the registration of Nidhi Company.


Benefits of Nidhi Company registration


If you are registering as a Nidhi Company, these are the benefits which you can have. 


  1. Is easy to register as the has minimal complexity for registration purpose.
  2. Requires only a total of 7 people, of which 3 are appointed as directors
  3. The Nidhi Company registration fees are 5,00,000 but you can register by paying a token amount of only 19,999/- at the time of registration. Later you get two months to pay the rest of the amount. Hence, it is very much cost-efficient.
  4. It doesn't have to follow any of the regulations given by RBI, as this kind of firm follows the Nidhi Rules, 2014.
  5. They provide with fund benefits and mutual fund benefit to its investors and the people.

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FAQ - Frequently asked questions

How can I expand the operations of my Nidhi Company to different areas?

A minimum of three branches can be opened in a particular district. In case you want to expand outside the district or want to open more than three branches, the Registrar of Companies need to intimated 30 days prior to their opening.

Should I dissolve my Nidhi Company because it has not gained the necessary numbers of representatives in spite of completing one full year of tenure?

The conditions laid down by the Act says that a Nidhi Company should acquire a minimum of 200 members within its first year of incorporation. However, in case the company is not able to meet the required numbers, it can apply for an extension with the necessary government authorities.

In a Nidhi Company, are members allowed to 

credit or debit cash to the general fund?

No, members are only allowed to deposit, borrow, or lend funds.

What are the criteria to become a representative of a Nidhi Company?

Any person can deposit, lend or borrow money through the provisions provided by the Companies Act, 2013. Hence, they can all become members of a Nidhi Company. provided they are not a corporation or a company.

In a Nidhi Company, what should the limit for cash deposit be, for its representatives?

A Nidhi Company can accept deposits not exceeding 20 times of its net owned assets, as per the last audited statements.