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Nidhi Company

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    Nidhi Company

    The dealings of Nidhi Company are restricted to its members only i.e. borrowing from the members and lending to back to them only and hence regarded as the mutual benefit societies. Nidhi Companies provides loans at less rates comparatively than Banks.

    Nidhi Company

    Lawgical Guru, helps in Registration of Nidhi company from anywhere in India within 10 days. We have huge experience in setting up such form. We also provide all sorts of legal assistance in Starting and Setting up of new form of business.

    Nidhi Company is a type of company in the Indian non-banking finance sector, recognized under section 406 of the Companies Act, 2013.[1] Their core business is borrowing and lending money between their members. They are also known as Permanent Fund, Benefit Funds, Mutual Benefit Funds and Mutual Benefit Company. They are regulated by Ministry of Corporate Affairs, which is also empowered to issue directions to them in matters relating to their deposit acceptance activities.

    Advantages:

    1. SAVING AMONG MEMBERS – Nidhi Companies cultivate the habit of frugality and savings amongst its members.
    2. LIMITED RBI REGULATIONS – Unlike Other NBFC’s And Banks Nidhi Company Are Least Regulated By RBI.
    3. PERPETUAL SUCCESSION – As this is also a form of company, therefore also enjoys the features of perpetual succession.

    Documents Required For Nidhi Company

    1. Pan Card of all the designated directors and shareholders.
    2. Aadhar/ Voter Id of all the directors and and also Utility Bill – electricity/water/mobile of their residence.
    3. Passport Sized photographs of all the directors.
    4. Address Proof of the Company. (Electricity Bill/Property Papers -Latest By 2 Months)
    5. NOC (No-Objection-Certificate) from the owner (if the property is rented).
    6. Digital Signature (DSC)

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