The Nidhi Company comes under the regulation of section 406 of the Companies Act 2013. It is incorporated to build the money saving & lending system for its members.
You need a minimum capital of Rs. 5 Lakh to start a Nidhi Company.
To start a Nidhi Company in India you need at least five Directors.
To start a Nidhi Company in India you need at least eight shareholders.
There are no regulations regarding the criteria that a representative of Nidhi Company must check so anyone can become a representative.
With us you can expect the incorporation process to be compiled in 20 to 30 working days. To enhance the incorporation process you can choose a unique name for your company and prepare all the required documents in advance. We have a team of experts who will help you and guide you through the way of your registration process to ensure that everything goes smoothly.
Yes, you need a minimum of 200 members within one year of the commencement of the Nidhi company to continue working.
If you don't have 200 members you can file for an extension from the government.
Yes, a Nidhi company can open a current account in a bank.
The main aim of the Nidhi company is to promote the saving habits in the members so it is profitable for those who are connected with it.
The ministry of corporate affairs regulates and supervises the working of Nidhi company in India.
