Nidhi Company Registration Rules (Documents Required for Registration) By Enterslice

In this article, we are going to highlight the Nidhi company registration documents along with the Nidhi company rules.

Nidhi Company Rules

Every Nidhi company needs to ensure the following things as per the rules:

  1. A Company must have at least 200 members.
  2. Net owned funds should not be less than ten lakhs
  3. Net owned funds ratio to be deposited should not be more than 1:20
  4. It is not allowed to admit a trust as a member or body corporate in Nidhi company
  5. The Company needs to ensure that at any time membership is not less than 200 people.
  6. Minors are not allowed to be admitted as a member of Nidhi company.
  7. Fixed deposits in Nidhi company can be accepted for a minimum period of 6 months and a maximum period of 60 months.
  8. Recurring deposit in Nidhi company should be accepted for a minimum period of 12 months to the maximum period of 60 months.
  9. Nidhi company should provide loans only to its members.
  10. Amounts of deposits should be calculated on basis of companies last audited annual financial statements.
  11. In case of directors, the must be eligible for the reappointment only if they have crossed the expiration of two years ceased to be a director.
  12. You cannot carry any business regarding chit funding or acquisition of securities after the registration of Nidhi company.
  13. You cannot pay incentives or commissions to mobilize the deposits.
  14. You cannot advertise issues for soliciting deposits neither you can enter into any kind of partnership for lending or borrowing activities.
Documents required for Nidhi Company Registration

You need to provide the following documents to our Nidhi company registration consultant to move ahead in the process:

  • Identity proof of all the directors
  • Identity proof of all the shareholders
  • Address proof of the directors
  • Address proof of the shareholders
  • Adhar card of all the directors and shareholders
  • A NOC OR no objection certificate from the property owner.
  • Passport size photographs of all the directors.
  • Proof of registered office.

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