Nidhi Company Registration
- Get your Nidhi company registered with us in 10 working days.
- 1 DSC and 3 DINs included. Company name registration & Expert support till RBI principle approval
Get Started
Here’s How It Works
With three simple steps you can serve quality assured food to your customers!
1
Get DSC and DIN
2
Select an appropriate company name.
3
Draft MOA and AOA
4
Avail CIN and certificate of incorporation
5
Apply for TAN, PAN
Excellent service and support. Nimble Trio Team is very supportive and professional. I Really appreciate the service and support from the team.
Nimble Trio has been our legal service provider for quite a long time! Our experience with them has been great, especially the speed and proficiency with which they deliver their services. We recommend them!
Nimble Trio is exactly what it does. Legal is simple. We went to Nimble Trio to register our Trademark during the lockdown and everything was done online with ease. We never even had to step out of the house. It was truly a digital experience.
Here’s What You’ll Need
Registering a Nidhi Company online in India is now simple with Nimble Trio. To ensure your documents remain completely secure, Nimble Trio uses top-level security protocols and industry-standard measures.
- Self-attested copies of your driver's license
- Voter ID
- Aadhaar card
- Passport
- Passport-size self-attested copies of your bank statement
- Phone bill and electricity bill
- Certificate with a specimen photographic signature
- Pan Card
- Photo of each director and shareholder
Why Should I Choose Nimble Trio for Company Registration in Pune?
New Company
We Register a New Company Every 9 Minutes
500K+
Businesses Served by Nimble Trio
Financial Services
All Financial Services in One Place
Quick & Affordable
Nominal rates, great turnaround time
Satisfaction
100% satisfaction guaranteed
Nimble Trio makes Nidhi Company registration the fastest! Get your Nidhi Company registered easily in just 5 simple steps.
Did you know ?
Nidhi Companies in India are governed by the Nidhi Rules, 2014. Being incorporated as public limited companies, they must comply with both the Nidhi Rules, 2014, and the requirements of the Companies Act, 2013. The RBI has specifically exempted this type of NBFC from its regulations, including registration with the RBI, so no RBI approval is needed to start a Nidhi Company. Every Nidhi Company must ensure it has at least 200 members within one year of incorporation.
Overview of Nidhi Company Registration
A Nidhi Company is a firm recognized under Section 406 of the Companies Act, 2013, as part of India’s non-banking financial sector. Its main purpose is to lend and borrow money among its members. These companies are also called mutual benefit companies, benefit funds, or permanent funds. The Ministry of Corporate Affairs (MCA) regulates them and can issue directives regarding how they manage deposits.
Nidhi Companies operate exclusively with their shareholder-members. They were created to promote thrift and encourage members to save, accepting deposits and lending solely for the mutual benefit of their members.
Nidhi Companies existed even before the Companies Act of 2013, with the ‘principle of mutuality’ being their core foundation. They are particularly common in South India, with about 80% of them located in Tamil Nadu.
Benefits of a Nidhi Business Registration
A Nidhi Company can only accept deposits and provide loans to its members as per the Nidhi Rules, 2014. This significantly reduces the risk of loan defaults compared to other financial institutions. It is one of the safest ways to lend money, and the interest rates offered to members are much lower than other lenders, helping members save more.
Although classified under NBFCs, Nidhi Companies are exempt from RBI registration and follow only the Nidhi Rules, 2014. This exemption makes compliance simpler and more manageable.
Saving money is a habit embraced by everyone, from children to seniors. Nidhi Companies focus on encouraging their members to save, making them a stable and sustainable business model.
One key advantage of starting a Nidhi Company is its affordable setup cost. It also comes with easy-to-use Nidhi Company software that simplifies the management of all Nidhi-related activities.
A Nidhi Company requires just 7 members, of whom 3 become directors. The registration process is straightforward, typically taking only 10–15 days, making it much easier to establish than an NBFC or other financial institutions.
Checklist for Forming a Nidhi Company
- A Nidhi corporation must have at least seven members in order to be formed
- Three of these should be chosen to serve as the directors
- It ought to have at least 200 members after a year of operation
- A share capital of ₹5 lakhs is mandatory for a Nidhi company to register
- The Net Owned Funds (NOF) must sum up to ₹10 lakhs within a year of registration
- If you are unable to meet the cap of 200 members, you must submit a request for extension in Form NDH-2 to the Regional Director of the Ministry of Corporate Affairs within 30 days of the financial year’s end
- If you have net owned funds of ₹10 lakh, your total deposit limit would be ₹2 crore. This ratio should be 1:20.
Nidhi Company Registration Process
Step 1: Obtain DSC and DIN
All directors must first acquire a Director Identification Number (DIN) and Digital Signature Certificate (DSC). Nimble Trio assists in applying for both, ensuring every director has these essential documents.
Step 2: Name Approval
Next, the shareholders or directors propose three unique company names to the MCA for approval. The MCA selects one name, which must be original and distinct from existing companies. Once approved, this name will be officially used for the Nidhi Company as per the Companies Act, 2013.
Step 3: Draft MOA and AOA
After name approval, the directors submit the registration application via Form INC-32, along with the Memorandum of Association (MOA) and Articles of Association (AOA). These documents should clearly state the purpose of forming the Nidhi Company.
Step 4: Obtain Company Identification Number (CIN)
The Certificate of Incorporation, which typically takes 15–25 days to issue, confirms that the Nidhi Company has been legally formed. This certificate also contains the Company Identification Number (CIN).
Step 5: Apply for TAN, PAN, and Open a Bank Account
Finally, directors must apply for a PAN and TAN (Tax Deduction Account Number) for the company. A bank account in the company’s name must also be opened using the MoA, AoA, PAN details, and the registration certificate.
FAQ's
A Nidhi Company can open a minimum of three branches within a district. Any new branch or expansion outside the district must be reported to the Registrar of Companies (ROC) at least 30 days in advance.
t’s not mandatory to close the company. Although the law requires a minimum of 200 members in the first year, the company can request an extension from the relevant authorities if it hasn’t achieved this number.
No. Members are allowed only to make deposits, borrow money, or receive loans.
Anyone who is an individual (not an organization or company) can join a Nidhi Company under the provisions of the Companies Act, 2013, and participate in deposit, lending, or borrowing activities.
The maximum deposit for a member is limited to 20 times the company’s net owned funds, as per the latest audited financial statements.
Yes. Nidhi Companies are fully legal and operate under the Nidhi Rules, 2014, as well as the requirements for public limited companies under the Companies Act, 2013
A Nidhi Company is owned collectively by its shareholders or members. It is a non-banking financial entity registered under the Companies Act and conducts lending and borrowing exclusively among its members.
