Register a company –Venture care Register| Nidhi Company Online, Nidhi Company Registration Process

1
Register a company Venture care Register Nidhi
Company Online, Nidhi Company Registration Process
www.venture-care.com
Ask_at_venture-care.com
020-65 3636 33
2
EANING Nidhi Company means a company which has
been incorporated as a public company with the
object of-Culvang the habit of thri and savings
amongst its members and receiving deposits from,
and lending to, its members only, for their
mutual benefit. OBJECT TO INCORPORATE NIDHI
COMPANY Nidhi Company is incorporated with
following objecves ? To smulate savings among
its member ? To lend Loans and receive money as
deposits for the purpose from only its
members. ? Since Nidhis come under NBFCs, the RBI
is empowered to issue direcons to them in maers
relang to their deposit acceptance acvies.
However, since Nidhis deal with their
shareholdermembers only, RBI has exempted such
nofied firms from the provisions of the RBI Act
and other direcons applicable to
NBFCs. APPLICABILITY The Central Government made
Nidhi Rules, 2014 for the purpose of carrying
out the objecves of Nidhi companies. These
rules shall be applicable to ? Every company
which had been declared as a Nidhi or Mutual
Benefits under Secon 620A(1)of Companies Act,
1956 ? Every company funconing on the lines of
a Nidhi company or Mutual benefit society but has
either not applied for or has applied for and is
awaing noficaon to be a Nidhi or Mutual Benefit
Society under Secon 620A(1)of Companies Act,
1956 ? Every company incorporated as a Nidhi
pursuant to the provisions of Secon 406of
the Companies Act, 2013. PRE-REGISTRATION
REQUIREMENTS FOR REGISTERING A NIDHI COMPANY
Minimum Three Directors Minimum three
Directors are required to incorporate Nidhi
Company. All this three director has to act as
members of the company. Minimum Seven
Members Nidhi Company can be started with seven
members. Out of which 3 are also to be appointed
as directors. Minimum Capital Requirement www.ven
ture-care.com
Ask_at_venture-care.com
020-65 3636 33
3
Nidhi Company as Public Limited Company Should
have Capital of Rs.5,00,000/- Like Public Limited
Company. No Preference Shares shall be issued.
Object of the Company The objecve of such a firm
would be to imbibe in the members a habit of thri
and saving and the services would only be
restricted to its members. The name of the
company must have word as Nidhi Limited at the
end. PROCEDURE FOR INCORPORATION OF NIDHI COMPANY
Get Digital Signature Cerficate (DSC) of all
seven members. Get Director Idenficaon number
(DIN) of three Directors by using DSC. Suggest
at least Six Company name. We will do search for
name availability. Apply to ROC for name approval
with adding word Nidhi Limited. Once name is
approved by ROC File Incorporaon document with
ROC like MOA AOA Consent of Director, Affidavit
and declaraon from directors etc. Once
Incorporaon form is approved by ROC, ROC shall
issue Cerficate of Incorporaon with PAN and TAN
No. Requirement to Apply for DSC All 7 members
should have DSC ? Pan Card Self Aested ?
Residenal Proof Self Aested ? Dully fill and
sign DSC applicaon form. Requirement to Apply for
DIN (Minimum Three Directors are required for
Incorporaon of Nidhi Company) ? Photograph of
the Applicant To be Self-aested. ? PA N To
be Self-aested Mobile No. Email id. ? Educaonal
Qualificaon ? Occupaon www.venture-care.com
Ask_at_venture-care.com
020-65 3636
33
4
? Proof of residence of applicant ? Address
proofs like passport, elecon (voter identy) card,
raon card, driving licence, electricity bill,
telephone bill or bank account statement shall be
aached and should be in the name of applicant (
shall not be later than 2 months). ? DSC of
Individual. Requirement to Apply for Name
Availability ? Six Proposed name with
significance of Name ? Authorized Capital-
Minimum 5 Lacs ? Jurisdicon of Registrar of
Companies. ? Main Object to be pursued by
Company Requirement to Apply for Incorporaon of
Nidhi Company ? Registered office address of
Company. ? Recent Address proof with NOC from
Owner. ? Consent from all Directors ? Affidavit
and declaraon from all directors and
subscribers. TIME PERIOD Time Required for
Incorporaon of Nidhi Company Shall be 20-30
days, depending on government approval. POST-REGIS
TRATION REQUIREMENTS FOR A NIDHI COMPANY There
are certain Compliances which Nidhi Company has
to do aer incorporaon of Nidhi Company. Every
Nidhi Company shall, within a period of one year
from Incorporaon of the company, ensure that it
has Not Less than 200 Members Aer incorporaon, a
Nidhi company must add at least 200 members to
comply with this requirement of law. Further, it
has to maintain this during the course of me. If
the total members falls less than 200 at any me
thereaer, it will leave the company at default.
However, if the company is not able to reach the
limit of 200 members, then you must apply for me
within 30 days of closure of financial year in
Form NDH-2 with Regional Director. Net Owned
Fund Net owned funds shall be Rs.10,00,000/- or
more (Net owned funds means the aggregate of
paid up equity share capital and free reserved as
reduced by the accumulated and intangible assets
appearing in the last audited balance
sheet). Ratio www.venture-care.com
Ask_at_venture-care.com
020-65 3636 33
5
Ratio of net owned funds to deposit shall be not
more than 120. This ratio is very easy to
understand. Suppose, if you have net owned funds
of 10 lakh, then your total deposit limit would
be INR 2 Crore. Deposit Unencumbered term
deposits of not less than 10 of the outstanding
deposits as specified in Rule 14. Members
restricon A Nidhi Company shall not admit a
body corporate or trust as a member. A minor
shall not be admied as a member of Nidhi Company.
But deposits may be accepted in the name of a
minor, if they are made by the natural or legal
guardian who is a member of Nidhi GENERAL
RESTRICTIONS Rule 6 provides general
restricons. Carry on the business of ? Chit
Fund, ? Hire Purchase Finance, ? Leasing
Finance, ? Insurance or Acquision of Securies
issued by anybody corporate Issue ? Preference
Shares, ? Debentures or ? Any Other Debt
Instrument by any name or in any form
whatsoever Open any Current Account with its
members Acquire another company by ? Purchase
of securies or ? Control the composion 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 resoluon in its general meeng
and also obtained the previous approval of the
Regional Director having jurisdicon over Nidhi ?
Carry on any business other than the business of
borrowing or lending in its own name ? Accept
Deposits from or lend to any person, other than
its members ? Pledge any of the assets lodged
by its members as security ? Take Deposits from
or lend money to anybody corporate ? Enter into
any Partnership Arrangement in its borrowing or
lending acvies www.venture-care.com
Ask_at_venture-care.com
020-65 3636 33
6
? Issue or cause to be issued any adversement
in any form for solicing deposit ? Pay any
brokerage or incenve for mobilizing deposits from
members or for deployment of funds or the granng
loans. Share capital allotment Every Nidhi shall
allot ? To each deposit holder at least a
minimum of 10 equity shares or shares equivalent
to Rs.100/-. ? To each savings account holder and
a recurring deposit account holder at least 10
equity shares of Rs.10/-. Acceptance of
deposits ? A Nidhi shall not accept deposits
exceeding 20 mes of its Net Owned Assets as per
last audited financial statements. ? The fixed
deposits shall be accepted for a minimum period
of 6 months and a maximum period of 60
months. ? Recurring deposits shall be accepted
for a minimum period of 12 months and a maximum
period of 60 months. ? In case of recurring
deposits relang to mortgage loans, the maximum
period of recurring deposits shall correspond to
the repayment period of such loans granted by
Nidhi. ? The maximum balance in a savings deposit
account at any given me qualifying for interest
shall not exceed Rs.1,00,000/- and the interest
shall not exceed 2 above the rate of interest
payable to savings bank account by naonalized
banks. ? Interest for fixed and recurring
deposits shall be at a rate not exceeding the
maximum rate of interest prescribed by RBI which
the NBFC can pay on their public
deposits. ? Every Nidhi shall invest and connue
to keep invested, in unencumbered term deposits
with a scheduled commercial bank or post office
deposits in its own name an amount which shall
not be less than 10 of the deposits outstanding
at the close of the business on the last working
day of the second preceding month. In case of
unforeseen commitments, temporary withdrawal may
be permied with the prior approval of the
Regional Director for the purpose of repayment to
depositors, subject to such condions and me limit
which may be specified by the Regional Director
to ensure restoraon of the prescribed limit of
10 www.venture-care.com
Ask_at_venture-care.com
020-65 3636 33
7
www.venture-care.com
Ask_at_venture-care.com
020-65 3636 33
Contact Us Head Office (India) Venture
Care Sr.No-29, Ajikyatara, kalaniket Dhankawadi,
Near Rajshri Sha Bank, Pune, Maharashtra 411043
(IN Phone [phone]
an, Branch Office
(Netherlands)
Sr.No-29, Ajikyatara, kalaniket
Venture Care
Dhankawadi, Near Rajshri Shahu
)
Jonker Fransstraat 46, Phone[phone]
3031 AV Rotterdam, (NL)
8
Contact Us www.venture-care.com
Ask_at_venture-care.com
020-65 3636 33