Explore the Benefits of Nidhi Registration
It is a company classified as an NBFC (a Non-banking financing company) and registered under Section 406 of the Companies Act 2013. The main business of such a company is to facilitate lending money between the core members of the company.
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The documents required are:
Nidhi Registration
3,599/-
Step-1:
Application for Nidhi Registration
Step-2:
Self-attested copy of documents
Step-3:
Submission & Verification of Documents
Step-4:
Get your Nidhi Registration
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A change to the Companies (Incorporation) Rules, 2022 has been announced by MCA. As per the change The second proviso has been added to Rule 12 and states that if a Nidhi firm is formed, it must seek a statement from the government prior to starting its operations and submit the declaration when the company is formed.
According to the rules laid out by the Ministry of Corporate Affairs, only members of a Nidhi company can apply for a loan from the company. Non-members are not eligible to avail of the loan facility offered by Nidhi companies.
The Companies Act, 2013 specifies that the minimum par value of shares issued by a Nidhi company is ₹10. This means that the face value of each share issued by the company cannot be less than ₹10.
A Nidhi company can pay a maximum dividend of 25% in a financial year, as per the provisions of the Nidhi Rules, 2014. This limit is intended to ensure that the profits of the company are distributed fairly among the members, and that the company does not engage in excessive dividend payouts that could impact its financial stability.
As per the rules laid out by the Ministry of Corporate Affairs, Nidhi companies cannot issue preference shares. This is because the primary objective of a Nidhi company is to cultivate the habit of savings among its members, and to provide them with access to credit facilities. Preference shares, which typically offer higher dividends and other preferential rights to shareholders, are not consistent with this objective.
A minimum of three branches can be opened in a particular district. In case you want to expand outside the district or want to open more than three branches, the Registrar of Companies need to intimated 30 days prior to their opening.