Nidhi Company Registration

Ideal for lending and borrowing amongst members (Duration 30-40 days)

What is included in Our Nidhi Company Registration Package?

DIN for 3 Directors
Digital Signature For 3 Directors
Name search & approval
MOA/AOA
Registration Fees
Company Pan Card

Documents Required For Nidhi Company Registration

Copy of Director’s PAN Card
Passport size photograph of Directors
Copy of Aadhaar Card/ Voter identity card of directors
Copy of Rent agreement(If rented property)
Electricity/ Water bill (Business Place)
Copy of Property papers (If owned property)
Landlord NOC (Format will be provided)

Minimum Requirements for Incorporation

Before Incorporation	After Incorporation
Minimum 7 shareholders	Minimum 200 Shareholders
Minimum 3 Directors	Net owned Fund shall not be less than Rs. 10 Lacs
Minimum Capital of Rs. 10 lacs	Unencumbered deposits of not less than 10% of the outstanding deposits
DIN for all directors	Net owned funds to deposits ratio should be more than 1:20

Concerns Related to Nidhi Company

Highly dependent on the integrity, honestyand loyalty of workers and members.
Lacklustre sales promotion.
It caters to only the needs of small and medium-income groups.
Nidhi Companies are usually managed by amateurs and professional managers cannot be hired due to lack of funds.
People may be afraid to deposit funds because Nidhi Companies don’t require a licence from the RBI.

Steps to Incorporate Nidhi Company Registration

1. Application of DSC & DPIN:
First of all, the partners have to apply for Digital signature and DPIN for Nidhi company. Digital signature is an online signature used of filing and DPIN refer to Directors PIN number issued by MCA. If the directors already have DSC and DPIN, then this step can be skipped.

2. Name approval:
You have to provide 3 different name options for Nidhi company to MCA of which one will be selected. Names provided should ideally be unique and suggestive of company business.

Step 3. MOA & AOA submission:
Once the name is approved, one needs to draft Memorandum of association and Articles of Associate. But the object of the Nidhi company must always be a charitable object. Both MOA and AOA are filed with the MCA with the subscription statement.

Step 4. Get incorporation certificate:
It typically takes 15- 25 days to form a Nidhi company and get the incorporation certificate. Incorporation certification is a proof that company has been creation. It also includes your CIN number.

Step 5. Apply for PAN, TAN and Bank account:
Then you need to apply for PAN and TAN. PAN and TAN are received in 7 working days. Post this, you can submit the Incorporation certificate, MOA, AOA and PAN with bank to open your bank account.

Online Filing
The Ministry of Corporate Affairs (MCA) has issued an integrated incorporation form INC-32. So now, an OPC can be incorporated online by filling the Simplified Proforma for Incorporating Company Electronically (SPICe) form in Form INC-32 (using Digital Signature Certificate of the Director)along with (eMoA) in Form INC-33 and (eAoA) in Form INC-34.