Looking for the finest Nidhi company consultant? Get your Nidhi Company Registration today from best company registration consultants. Click here to know all about Nidhi company registration - Benefits, Requirements, Documents, and Process. The Ministry of Corporate Affairs regulates the NIDHI company. Though the Company Act provisions regulate NIDHI companies, they are exempted from specific Act provisions applicable to other companies.
National Initiative For Developing and Harnessing Innovations (NIDHI) is a financial institution or NBFC that involves deposits and money lending to its members. Moreover, NIDHI company is registered under the Companies Act, 2013, and is governed according to the guidelines of the Reserve Bank of India (RBI).
However, as NIDHI company deals with its shareholders only, RBI has exempted notify NIDHI company from core RBI Acts, and other directions apply on NBFC.
In simpler words, NIDHI is the company that is incorporated with the motive of cultivating the habit of thrift, saving among its members, receiving deposits from members, and lending money to its members for their mutual benefit.
The Ministry of Corporate Affairs regulates the NIDHI company. Though the Company Act provisions regulate NIDHI companies, they are exempted from specific Act provisions applicable to other companies.
NBFC included NIDHI company in its definition, which works fundamentally in the unorganized money market. But, on the contrary, since 1997, NBFCs are majorly regulated by RBI.
Nidhi Company is the perfect type of company for those who want to start a business with minimum capital investment.
As per the provisions of Section 406(1) of the Companies Act, 2013, the Nidhi Company as '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 just for their mutual benefit.”What is ROC Compliance?ROC stands for Registrar of Companies which is an office under the Indian Ministry of corporate affairs that deals with the administration of the businesses Act, 2013.
ROC has been appointed under section 609 of the businesses act covering the varied States and Union Territories are vested with the first duty of registering companies and LLPs floating within the respective states and therefore the Union Territories and ensuring that such companies and LLPs suit statutory requirements under the act.
The office of ROC functions as registry records, associated with the businesses registered with them, which are available for inspection by members of the general public on payment of the prescribed fee.
It is important to comply with all compliances applicable to your company to avoid penalties and fines.Our kanakkupillai team will guide you through all these compliances required to be completed since the incorporation.
You can get your ROC Compliance for Private Limited Companies done through kanakkupillai.Advantages of Nidhi Company RegistrationEasy to Form the CompanyWith 7 persons during which 3 of them are going to be appointed as Director can start a Nidhi CompanyEasy registration processJust 10-15 days needed to registerCost-Efficient RegistrationWith Rs 5,00,000 because of the minimum capital investment, Nidhi Company Registration Process is often started.
Nidhi company in Pune, company in Pune, registration company in Pune Nidhi companyNidhi company is a registered company under the companies act, 2013 which has the only objective of inculcating the habit of saving amongst its members.
therefore, Nidhi company is the ideal entity to require a deposit from a lender to a selected group of individuals ADVANTAGES OF REGISTERING IN NIDHI COMPANYSeparate legal entityThe company, legal entity, and person established thereunder.
The member of the corporate has no liability to the creditors of a Nidhi company.Uninterrupted existenceNidhi companies 'perpetual succession ' exists until its legally dissolved.Better credibilityThe Nidhi company enjoys the best credibility in comparison to or business registration organizations moreover it is monitored by the central government Easy maintenanceThe board of management of the corporate often changed by filling the straightforward form with the registrar of Companies.
The board of management of a corporation controls the activities of the corporate.Concern companya juristic person can acquire its enjoyment and eliminate property in its name.
No member can claim upon the property of the corporate because Nidhi company is a concerned company.
Limited liabilityThe status of being legally responsible for a Limited amount for liabilities of the corporate.
