A Nidhi Company can be referred to as a bank where the only beneficiaries of the loans and the deposits are the members of the company themselves. It is mutual benefits society that as a form of a company. It has almost all the features of private limited companies and to that end, the way you start a Nidhi company in India is the same as a private limited company.
For a company to be a Nidhi company, it should have the following requirements:
The documents that are required prior to beginning the registration process are as follows:
Also Read: Secretarial Compliance and Annual Compliance for a Nidhi Company
The registration process for a Nidhi company is as follows:
If all the steps have been followed through within the right way, your company would be registered. To that end, you would be awarded a Certificate of Incorporation.