How to Register a Nidhi Company?

A fund company is one that is set up with the objective of increasing savings and savings among its members. Borrowing and lending money to its members only for their mutual benefit is prohibited. It has been recognized under Section 406 of the Companies Act 2013 and (Nidhi Company) Rules, 2014. The main idea of ​​fund companies is the “principle of reciprocity”, due to which they are also called mutual benefit companies.

Nidhi Company
Fund companies are exempted from registering with RBI. They are required to be registered as a public limited company. Thus, the process of registration of a fund company is similar to the registration of a public company.

The following are the minimum requirements for registration of a fund company:

  1. A fund company will be incorporated as a public limited company. It needs:
A.) 7 people
B.) 3 directors (they can be appointed out of 7 people)
C.) Minimum Paid Equity Share Capital Rs. Should be 5 lakhs
  1. Fund company will not issue preference shares
  2. The fund company will not pursue any other objective.
  3. Every Nidhi Company is required to have “Nidhi Limited” as a part of its name.
  4. Requirements must be met within 1 year:
  5. The minimum number of members should be 200
  6. Minimum Net Owned Fund Rs 10 Lakh
  7. The ratio of net ownership fund to deposit shall not exceed 1:20
  8. Debt-free fixed deposits, not less than 10% of outstanding deposits
If the fund company fulfills the above conditions mandatory for operating as a fund company, the company must file the return in Form NDH-1 duly certified by a practicing CA / CS / CWA along with the requisite fee within a period. Have to do. 90 days from the end of the first financial year after its incorporation (and where applicable, the second FV).
At the end of one year from the incorporation, the fund company is unable to meet the above conditions, the company may within 30 days from the end of the first financial year, apply to the Regional Director in Form NDH-2 for extension of time.
If the fund company is unable to meet the above conditions even after the end of the second financial year, the fund company will not accept any deposit from the beginning of the second financial year until the provisions of its operation as a fund. Does not comply with the company will be responsible for further punitive consequences.

Check more details:


Private Limited Company Registration
Public Limited Company Registration
Limited Liability Partnership Registration
One Person Company Registration
Producer Company Registration
Nidhi Company Registration
GST Return Filing
PF Return Filing
ESIC Return Filing
Income Tax Return Filing
TDS Return Filing Services
Location: India

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