Nidhi Company Registration
Legal Services in New Delhi
www.nidhicompanyregister.in/
Remember you found this company at Infoisinfo
875000646?
Address
B-300, Saraswati Vihar, Pitampura. Pitampura.. P.C. 110034, New Delhi, New Delhi.What you should know about Nidhi Company Registration
What is Nidhi Company?
A Nidhi Company or Mutual Benefit Society/Fund or any other name by which you may know it, is a company created for the mutual benefit of its members.This mutual benefit comes from group lending and borrowing.
Within these companies the members make deposits and these deposits are used to give secured loans to the members at a reasonable interest rate.The basic idea of a Nidhi company is to save its members from the exploitation of money lenders who charge high-interest rates.
By becoming members of Nidhi’s people develop a habit of savings and self-reliance.
Background or history
Long before the financial institutions were regulated and proper financial framework was established, idea of group lending and borrowing existed but not by the same name or in the same way as it exists today as Nidhi Company.
In Hindi, Nidhi refers to finance, treasure or fund. Nidhi’s used to grant secured loans against tangible assets for personal purposes like family functions, marriages, medical issues, education, property purchase, etc.
Why should Nidhi Company be registered?
A registered Mutual Benefit Society has various advantages. Such as:-
Limited Liability: The members have limited liability which is extended up to the amount they have contributed or invested in the company. They are liable only for their share in the company. Personal Assets are beyond the reach of liability. They cannot be utilized for meeting the liability of the company.
Availability of funds: Funds contributed by members is available for the members themselves at lower interest rates.
Legal Existence: A registered Mutual Benefit Society enjoys separate legal existence. The members and the company are different. The company can buy, sell, or acquire assets in its own name, it can also incur debt in its own name, also it can sue or be sued in its own name.
A Nidhi Company or Mutual Benefit Society/Fund or any other name by which you may know it, is a company created for the mutual benefit of its members.This mutual benefit comes from group lending and borrowing.
Within these companies the members make deposits and these deposits are used to give secured loans to the members at a reasonable interest rate.The basic idea of a Nidhi company is to save its members from the exploitation of money lenders who charge high-interest rates.
By becoming members of Nidhi’s people develop a habit of savings and self-reliance.
Background or history
Long before the financial institutions were regulated and proper financial framework was established, idea of group lending and borrowing existed but not by the same name or in the same way as it exists today as Nidhi Company.
In Hindi, Nidhi refers to finance, treasure or fund. Nidhi’s used to grant secured loans against tangible assets for personal purposes like family functions, marriages, medical issues, education, property purchase, etc.
Why should Nidhi Company be registered?
A registered Mutual Benefit Society has various advantages. Such as:-
Limited Liability: The members have limited liability which is extended up to the amount they have contributed or invested in the company. They are liable only for their share in the company. Personal Assets are beyond the reach of liability. They cannot be utilized for meeting the liability of the company.
Availability of funds: Funds contributed by members is available for the members themselves at lower interest rates.
Legal Existence: A registered Mutual Benefit Society enjoys separate legal existence. The members and the company are different. The company can buy, sell, or acquire assets in its own name, it can also incur debt in its own name, also it can sue or be sued in its own name.
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Products
How to register/incorporate a Nidhi Company?
- Incorporate a Public Ltd. Company with a minimum paid up equity share capital of Rs. 5,00,000 with the sole object of lending and borrowing within the members.
- A company must be incorporated with ‘Nidhi Ltd.’ as last words in their name.
- A company should ensure that it has minimum 200 members, Rs. 10,00,000 or more of Net Owned Funds, a maximum ratio of N.O.F to Deposit 1:20,debt-free term deposits of not less than 10% of the outstanding deposits, etc. A company is then required to file after the close of the first financial year NDH-1 or NDH-2 within 90 days or 30 days with ROC or RD respectively.
Services
Nidhicompanyregister.in is an online portal to help companies register for Nidhi Company in India. We have 7+ years of experience in the application of Nidhi Company. We have helped more than 450+ clients for Nidhi Company registration.Nidhi Company is an initiative by LegalRaasta - India's topmost CA, CS & Legal platform.
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Payment methods we use:
- Cash
- Credit card
- Debit card
- Bank transfer
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