Surpassing Services for Nidhi Limited Company Registration
Nidhi Companies are also known Mutual Funds Benefits Company, Mutual Funds Benefits Societies or Benefit Funds. It deals with the contribution from and loans to its members only. As such they come under the Non-Banking Financial Companies (NBFC) category.
Nidhi Companies are formed to evolve the habit of savings and being thrifty among its members for mutual benefits.
Nidhi Companies are registered in India as Public Limited Companies and hence they go through a registration procedure. There are certain requirements to meet before a Nidhi Company can be registered.
Essential requirements for registration are:
- DINs and DSCs of Directors
- Identity and Address proofs of Directors
- Memorandum or Articles of Association
- Address of the proposed Nidhi Company office
Within a period of one year, Nidhi Limited Company must satisfy the following conditions:
- At least 200 members or shareholders
- Minimum net owned funds (NOF) of Rs. 10 lakh or more
- Term deposits must be at least 10% of outstanding deposits
- Deposits accepted must not exceed 20 times of its NOF
It takes upto 45 days to register a Nidhi Limited Company following the Nidhi Company registration procedure.
There are certain extended scopes of services for Nidhi Company registration. They are as follows:
- Obtaining DSC with a validity of 2 years
- Obtaining DIN for Directors
- Applying and obtaining name of Company
- Drafting of Incorporation documents including Memorandum and Articles of Association
- Obtaining Certificate of Incorporation from Ministry of Corporate Affairs
- Tax registrations such as PAN and TAN of a Company
- Printed copy of Memorandum and Articles of Association
- Reply to queries and issues related to Incorporation of Company