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Nidhi Co Registration

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₹49.00

Nidhi Company Registration is the formal process of establishing a financial institution under the provisions of the Companies Act in India. Nidhi Companies operate as mutual benefit societies, encouraging thrift, savings, and financial cooperation among their members. The registration process involves adhering to regulations set by the Ministry of Corporate Affairs, encompassing document submission and official approvals. These non-banking financial entities focus on providing affordable credit facilities to their members while fostering a sense of financial discipline. Members actively participate by contributing to savings and deposits, creating a community-driven financial ecosystem. Nidhi Companies play a crucial role in promoting financial inclusivity, empowering local communities through cooperative financial practices and shared benefits.

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Process For Nidhi Company Registration :-

Step 1: Applying for DIN and DSC

Directors of the Nidhi Company must apply for Director’s Identification Number (DIN) and acquire a Digital Signature Certificate (DSC). DIN is issued by the Ministry of Corporate Affairs (MCA), while DSC is essential for all e-filing processes. Directors with pre-existing DIN and DSC can bypass this step.

Step 2: Name Approval Process

Propose three preferred names for the Nidhi Company to the MCA. File Form RUN (Reserve Unique Name) with the ROC to propose and reserve the company name. The MCA will choose one name for approval. The selected name must be unique and not currently in use. Once approved, it remains valid for 20 days.

Step 3: MoA & AoA

Draft the Memorandum of Association (MoA) and Articles of Association (AoA), specifying the primary purpose of establishing the Nidhi company. These documents, along with a subscription statement, need to be filed with the Registrar of Companies (ROC).

Step 4: Application for Registration

After securing name approval, directors must submit an application for registration. This application includes the submission of the Articles of Association (AOA) and Memorandum of Association (MOA).

Step 5: Certificate of Incorporation (CIN)

Typically, it takes 15-20 days for the relevant authority to issue the Certificate of Incorporation for the Nidhi Company. This certificate also provides the unique Company Identification Number (CIN) for the company.

Step 6: PAN, TAN and Bank Account

Apply for the Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN). Subsequently, open a bank account for the Nidhi Company by submitting the Certificate of Incorporation, MoA, AoA, and PAN.

Documents Required For Nidhi Company Registration :-

1. Identity and Address Proof:

  1. Director Identification Number (DIN):
    • Apply for DIN for all the proposed directors.
  2. Digital Signature Certificate (DSC):
    • Obtain a DSC for all directors.
  3. Proof of Identity:
    • Passport, Aadhar card, or driver’s license of the proposed directors.
  4. Proof of Address:
    • Recent utility bills or bank statements as proof of address for the proposed directors.
  5. Passport-sized Photographs:
    • Passport-sized photographs of all proposed directors.

2. Share Capital Requirements:

  • Bank Statement:
    • Bank statement showing the deposit of minimum capital required for Nidhi Company.

3. Registered Office Proof:

  • Address Proof:
    • Utility bills or rental agreement for the registered office address.

4. Membership Details:

  • List of Members:
    • Provide details of the initial members of the company.