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Is it mandatory to have the word “Nidhi” in the company name?
Yes, as per the rules, it is mandatory for a Nidhi company to have the word “Nidhi” as part of its name.
Is Nidhi Company treted as Cheeting Company?
Any company are not a cheeting company including nidhi company. But any company can cheet with people.
What is a Nidhi company?
Nidhi company is a company registered under Companies Act and notified as a nidhi company by Central Government under Section 620-A of Companies Act. It is a non-banking finance company doing the business of lending and borrowing with its members or shareholders.
How a nidhi company is formed in west Bengal?
A Nidhi company is formed in West Bengal easily. The company just needs to apply for a permit with the local authorities to get the company established and set up properly.
What are the key documents required for Nidhi company registration in Assam through SAIDigitalFilling?
While doing Nidhi company registration in Assam using SAIDigitalFilling, you will need the following key documents: Identity Proofs: Valid identity proofs of all directors and shareholders, such as Aadhaar cards, PAN cards, or passports. Address Proofs: Address proofs of directors and shareholders, such as utility bills, bank statements, or rental agreements. Memorandum of Association (MOA): MOA is a legal document that outlines the company's objectives, scope of activities, and rules and regulations. Articles of Association (AOA): AOA defines the company's internal rules, regulations, and operational procedures. Director Declarations: Declarations from directors stating that they are not disqualified to act as directors and have complied with all legal requirements. Shareholder Declarations: Declarations from shareholders confirming their intention to become shareholders of the Nidhi company. These documents, along with any additional information specific to your company, will be required during the Nidhi company registration process through SAIDigitalFilling. Our platform ensures a streamlined document submission process, making it convenient for entrepreneurs in Assam to provide the necessary information for registration.
What are the post-registration requirements and compliances for a Nidhi Company?
After registering a Nidhi Company, it must meet the following post-registration requirements: Membership Growth: Within one year of incorporation, the company must have at least 200 members. Net Owned Funds (NOF): The company must maintain a Net Owned Funds (NOF) to deposits ratio of 1:20. This means the company’s NOF should not be less than ₹10 lakhs, and the deposits cannot exceed 20 times the NOF. Restrictions on Loans and Deposits: A Nidhi Company can only accept deposits and lend money to its members. It is not allowed to issue loans or take deposits from non-members. Annual Compliance Filing: Nidhi Companies must file annual returns and financial statements with the Registrar of Companies (ROC). Additionally, they must file Form NDH-1 (return of statutory compliances), NDH-2 (application for extension if they fail to meet member requirements), and NDH-3 (half-yearly return) regularly.
How do you incorporate a nidhi company?
By filing form 2 and form 63.
How do you registerd a nidhi company under section 620-A of companies act?
In order to register as a nidhi company in India under section 620-A of companies act, you will have to apply at the Ministry of Corporate Affairs headquarters.
What are the key compliance requirements for a Nidhi Company in India?
A Nidhi Company is a type of non-banking financial company (NBFC) that primarily focuses on borrowing and lending money between its members. It operates under the provisions of the Companies Act, 2013, and the Nidhi Rules, 2014. To ensure smooth functioning, a Nidhi Company must adhere to certain compliance requirements. First, a Nidhi Company must be incorporated as a public limited company with a minimum of seven members and three directors. It is crucial to maintain a minimum net owned funds (NOF) of ₹10 lakh, as specified under the Nidhi Rules. Regular filings with the Registrar of Companies (RoC) are mandatory, such as annual financial statements (Form AOC-4) and annual return (Form MGT-7). A Nidhi Company must also submit a statement of its members (Form NDH-1) every six months, ensuring its compliance with the statutory requirements. Moreover, the company must conduct a general meeting once a year to present its accounts and operations. A key compliance requirement is the restriction on the number of members. A Nidhi Company cannot accept deposits from the public or conduct any activities other than those permitted under the Nidhi Rules. Failure to comply with these regulations can lead to penalties or the cancellation of its license.
How a Nidhi company is formed in India?
Nidhi Companies are Companies notified by the Central Government as such under Section 620A of the Companies Act, 1956.These Companies mainly engage in the business of collecting deposits in the form of Savings Deposit, Recurring Deposit etc.... and also lend to the same to the members of the Company. One of the important feature of a nidhi Company is that it deals only with members (share holders). Thus if you want to deposit any amount in a nidhi Company or want to avail a loan from a Nidhi Company, first you have to become a member by subscribing to shares of the Company.Moreoover, Nidhi Companies can open SB Accounts for its members. Moreover, there are certain restrictions like a Director can hold office for a contimuos period of 10 years only and an Auditor for a period of 5 years.Warm RegardsBirendra Banka9661805650
What is difference nidhi company and chitti?
I know Nidhi company ,its under ROC, recognize by RBI with special notification .......... normally ROC of any state give permission to work on same ........... I don't know that what is chitti , If i am not wrong ,you are asking for Chit funds company..................... then reply me .........
Nidhi Rao?
Nidhi Rao
