Nidhi Company Registration
Quick Answer
Nidhi Company Registration India is a process under the Companies Act, 2013, specifically governed by Section 406 and the Nidhi Rules, 2014. A Nidhi company is a non-banking financial institution that promotes thrift and savings among its members.
Nidhi Company Registration — detailed explanation below
Governing Act — Nidhi Company Registration India
Nidhi Company Registration India is primarily governed by Section 406 of the Companies Act, 2013, read with the Nidhi Rules, 2014. These provisions define the eligibility, capital requirements, and operational restrictions for Nidhi companies. The Ministry of Corporate Affairs (MCA) oversees the registration and compliance of such entities.
Government Department & Website for Nidhi Company Registration India
The Ministry of Corporate Affairs (MCA) is the government department responsible for Nidhi Company Registration India. The official portal for filing incorporation documents is the MCA21 portal (www.mca.gov.in). All forms, including SPICe+ (INC-32), must be submitted electronically through this portal.
Nidhi Company Registration India Application Process
The process for Nidhi Company Registration India involves several steps:
- Obtain Digital Signature Certificate (DSC) for proposed directors.
- Apply for Director Identification Number (DIN) via SPICe+ form.
- File SPICe+ (INC-32) with the MCA, along with Memorandum and Articles of Association.
- Pay prescribed fees and obtain Certificate of Incorporation.
- Apply for Nidhi status within one year of incorporation by meeting minimum membership and net owned fund requirements. The entire process is online through the MCA21 portal.
Key Forms Required for Nidhi Company Registration India
The key forms for Nidhi Company Registration India include:
- SPICe+ (INC-32): Integrated incorporation form.
- INC-33: e-Memorandum of Association.
- INC-34: e-Articles of Association.
- INC-9: Declaration by subscribers.
- DIR-3: Director Identification Number application.
- INC-22: Notice of registered address.
- INC-28: Certificate of commencement of business (if applicable).
Eligibility Criteria for Nidhi Company Registration India
To register a Nidhi Company in India, the following criteria must be met:
- Minimum 7 members (no maximum limit).
- Minimum 3 directors.
- Minimum net owned fund of Rs. 5 lakh.
- The company must be a public limited company.
- The name must end with 'Nidhi Limited'.
- The company must not carry on any business other than borrowing and lending among members.
Timeline for Nidhi Company Registration India
The timeline for Nidhi Company Registration India depends on the completeness of documents and MCA processing. Generally, the incorporation certificate is issued within 7-10 working days after filing SPICe+. However, obtaining Nidhi status requires meeting additional conditions within one year of incorporation. No specific time estimate can be guaranteed as it varies by case.
Fees for Nidhi Company Registration India
The government fees for Nidhi Company Registration India are prescribed under the Companies (Registration Offices and Fees) Rules, 2014. Below is the fee structure based on authorized share capital:
| Authorized Share Capital | Government Fee (INR) |
|---|---|
| Up to Rs. 1,00,000 | Rs. 500 |
| Rs. 1,00,001 to Rs. 5,00,000 | Rs. 2,000 |
| Rs. 5,00,001 to Rs. 10,00,000 | Rs. 4,000 |
| Above Rs. 10,00,000 | Rs. 5,000 + Rs. 1,000 per Rs. 1,00,000 increase |
Additional costs include stamp duty (varies by state) and professional fees for drafting documents.
Frequently Asked Questions
What is Nidhi Company Registration India?
Nidhi Company Registration India is the process of incorporating a mutual benefit society under Section 406 of the Companies Act, 2013. It allows the company to accept deposits and lend money only to its members, promoting thrift and savings.
Who can apply for Nidhi Company Registration India?
Any group of at least 7 individuals (members) and 3 directors can apply for Nidhi Company Registration India. The company must be a public limited company with a minimum net owned fund of Rs. 5 lakh.
What are the documents required for Nidhi Company Registration India?
Documents include PAN card, Aadhaar, address proof of directors, registered office proof, and digital signatures. Forms such as SPICe+ (INC-32), INC-33, and INC-34 are filed online.
How long does Nidhi Company Registration India take?
The Certificate of Incorporation is typically issued within 7-10 working days after filing. However, obtaining Nidhi status requires meeting additional conditions within one year of incorporation.
What is the fee for Nidhi Company Registration India?
Government fees depend on authorized share capital, starting from Rs. 500 for capital up to Rs. 1,00,000. Additional costs include stamp duty and professional fees.
Can a Nidhi Company accept deposits from the public?
No, a Nidhi Company can only accept deposits from its members, not from the general public. It must comply with the Nidhi Rules, 2014, and cannot carry on any other business.
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