Nidhi Company Registration

A Nidhi company closely resembles an NBFC; however, under a Nidhi Company, deposits may be accepted from the members/shareholders of the Nidhi Company. A Nidhi Company is registered to borrow and lend to its members to promote the habit of saving money among its members and works on the principle of mutual help. Nidhi companies are very popular in southern states in India. Unlike an NBFC a Nidhi Company is not required to obtain a license from RBI; hence it is easy to incorporate.

The Stepwise Process of Nidhi Company Registration

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Minimum Requirements to Start a Nidhi Company

Prohibited Activities

Activities like Chit Fund, Hire-Purchase Finance, Leasing Finance, Insurance or Securities Business is strictly prohibited.

Number of Members

It starts with 7 members as a public limited company, however, to obtain a Nidhi Company Status it needs at least 200 members in a year.

Capital Requirement

The minimum paid-up equity capital required for Nidhi Company Status is Rs. 10,00,000 help by at least 200 members.

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Documentation of the Nidhi Company

Documentation of the Company & Promoters
Documentation for the Company Registered Address

Nidhi Company Registration Process

  • Digital Signature Of Director – Step – 1

    As the application for Company Incorporation is filed online, the process starts with the issuance of Digital Signatures of class two.

  • Name Approval Of Company – Step – 2

    The name of Nidhi Company must end with “Nidhi Limited” and must be unique and should not be the same or similar to an existing company.

  • Filling For Incorporation – Step – 3

    One single application (spice 32) is filed for incorporation of the company. with the approval of this, the Certificate is Issued.

  • Obtaining The Nidhi Company Status – Step – 4

    The application for Nidhi Status is filed when the net worth of the company is over Rupees Ten lacs and the minimum no. of members are 200.

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