Nidhi corporations( PH-09330160431)Nidhi Company Registration in India are created for cultivating the
habit of thrift and savings amongst its members. Nidhi corporations are allowed
to borrow from its members and lend to its members. Therefore, the funds
contributed for a Nidhi company square measure solely from its members
(shareholders). Nidhi corporations are minute compared to the banking sector
and is especially accustomed cultivate a savings amongst a bunch of
individuals. to find out additional regarding beginning a Nidhi Company in
India, you'll also refer to the article “Starting a Nidhi Company” found within
the IndiaFilings Learning Center. during this article, we have a tendency to
primarily look at the nuances for registration of a Nidhi Company in India.
Nidhi Company Overview
Nidhi firms square measure registered
restricted firms concerned in taking deposits and disposal to its members. The
activities of a Nidhi Company can fall into the horizon of banking company of
India, as a result of it's just like a NBFC. However, as Nidhi firms entirely
modify shareholder-members money, tally has exempted Nidhi firms from the core
provisions of the tally and totally different rules 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:
1.
carry on the business of chit fund, hire purchase finance,
leasing finance, insurance or acquisition of
securities issued by any body corporate;
securities issued by any body corporate;
2.
issue preference shares, debentures or any other debt instrument
by any name or in any form whatsoever;
3.
open any current account with its members;
4.
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;
5.
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.
6.
accept deposits from or lend to any person, other than its
members;
7.
pledge any of the assets lodged by its members as security;
8.
take deposits from or lend money to any body corporate;
9.
enter into any partnership arrangement in its borrowing or
lending activities;
10.
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.
soliciting deposits.
11.
pay any brokerage or incentive for mobilising deposits from
members or for deployment of funds or for granting loans.
12.
To start a Nidhi Company in India the primary
step is to include a Ld., below the businesses Act, 2013. Hence, a minimum of 3
administrators and 7 shareholders are going to be needed to begin the Ld.
incorporation method. throughout incorporation of the Nidhi company, care
should be taken to confirm that the article of the Ld. mentioned within the
memo 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 his or her mutual profit.
Get In Touch
Our Corporate Office:
2C, Kalicharan Ghosh Road,
1st Floor, Kolkata-700050
Mob : +91-9330160431
Phone No : 033-65056655 / 56
1st Floor, Kolkata-700050
Mob : +91-9330160431
Phone No : 033-65056655 / 56
Delhi Office:
RZ-42, 3rd floor,
Khushi Ram Park, Uttam Nagar,
New Delhi - 110059
Mob : +91-9711101954
Phone No : 011- 65456655 / 56
Khushi Ram Park, Uttam Nagar,
New Delhi - 110059
Mob : +91-9711101954
Phone No : 011- 65456655 / 56
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