Nidhi Company Registration in Guwahati Assam
A Nidhi Company is a type of non-banking financial institution (NBFC) in India that operates on the principle of mutual benefit. It is regulated under the Nidhi Rules, 2014, and functions as a type of mutual benefit society, primarily dealing with its members’ savings and lending activities. Nidhi Companies are established to promote the habit of thrift, savings, and financial stability among their members.
Why Start a Nidhi Company in Assam?
Starting a Nidhi Company in Guwahati, Assam has numerous benefits:
No RBI Approval Required
Operates as an NBFC but does not require Reserve Bank of India (RBI) approval.
Low Setup Cost
Nidhi company setup cost is affordable, making it a great option for small businesses.
Encourages Savings & Investment
Promotes financial stability within a closed group of members.
Limited Liability Protection
Members' personal assets remain safe, as liability is limited.
Easy Online Registration
Get Nidhi company registration online from the comfort of your home.
Flexible Business Model
Can provide loans and accept deposits only from members.
Eligibility Criteria for Nidhi Company Registration
The eligibility criteria for establishing a Nidhi Company online in India are outlined in the Nidhi Rules, 2014. Here are the key eligibility criteria for Nidhi Company registration:
1. Type of Company:
Only a public limited company can be registered as a Nidhi Company. Therefore, the applicant company must be incorporated as a public limited company under the Companies Act, 2013.
2. Minimum Number of Members:
A Nidhi Company must have a minimum of 200 members within 120 days of its incorporation. This is a crucial requirement to ensure that the company operates with a sufficient number of members and promotes the principle of mutual benefit.
3. Net Owned Funds:
Nidhi Companies are required to maintain a minimum amount of net owned funds. As per the Nidhi Rules, the net owned funds should not be less than Rs. 20 lakhs or higher as prescribed by the central government.
4. Share Capital:
Nidhi Companies must have a minimum paid-up equity share capital of Rs. 10 lakhs. This capital requirement is necessary to ensure the financial stability and adequacy of the company.
5. Objectives and Activities:
The primary objective of a Nidhi Company should be cultivating the habit of thrift, savings, and providing loans to its members. It should engage primarily in the business of accepting deposits and lending to its members.
6. Membership Restrictions:
Membership in a Nidhi Company is limited to individuals only. Corporate entities or non-individual entities cannot become members of a Nidhi Company.
Formation and Registration Process
The formation and registration process for a Nidhi Company involves several steps and compliance with the Nidhi Rules, 2014. Learn key requirements and procedures.
1. Incorporation as a Public Limited Company
The first step is to incorporate as a public limited company under the Companies Act, 2013.
2. Minimum Capital Requirement
Ensure a paid-up equity share capital of ₹10 lakh, as required by the Nidhi Rules, 2014.
3. Net Owned Funds
Maintain at least ₹20 lakh in net owned funds or as per government regulations.
4. Objects and Activities
Define the primary objectives to focus on thrift, savings, and loan services for members.
5. Board of Directors
Appoint a minimum of three directors who meet the eligibility criteria under the Companies Act, 2013.
6. General Body Meetings
The first general body meeting should be conducted within 90 days of incorporation.
7. Obtain Nidhi Company Certificate
After successful registration, the Registrar of Companies (RoC) will issue a Certificate of Incorporation confirming Nidhi Company status.
Why Start a Nidhi Company in Assam?
Starting a Nidhi Company in Guwahati, Assam has numerous benefits:
✔ No RBI Approval Required: Operates as an NBFC but does not require Reserve Bank of India (RBI) approval.
✔ Low Setup Cost: Nidhi company setup cost is affordable, making it a great option for small businesses.
✔ Encourages Savings & Investment: Promotes financial stability within a closed group of members.
✔ Limited Liability Protection: Members’ personal assets remain safe, as liability is limited.
✔ Easy Online Registration: Get Nidhi company registration online from the comfort of your home.
✔ Flexible Business Model: Can provide loans and accept deposits only from members.
Step-by-Step Process for Nidhi Company Registration in Assam
Follow these simple steps to register your Nidhi company in Guwahati Assam:
✔ Choose a unique name ending with “Nidhi Limited” and get approval from the Ministry of Corporate Affairs (MCA).
✔ Register under the Companies Act, 2013 by filing SPICe+ (Simplified Proforma for Incorporating a Company Electronically) form.
✔ File Memorandum of Association (MOA) and Articles of Association (AOA) with the Registrar of Companies (RoC).
✔ Once the application is approved, the RoC will issue a Certificate of Incorporation, officially recognizing your Nidhi Company.
✔ Open a business bank account, add members, and start operations following Nidhi Rules, 2014.
Nidhi Rules and Regulations:
The Nidhi Rules, 2014, provide the regulatory framework for Nidhi Companies in India. These rules outline the requirements, restrictions, and obligations that Nidhi Companies must comply with. Here are key provisions of the Nidhi Rules and Regulations:
Formation and Registration:
Nidhi Companies must be incorporated as public limited companies under the Companies Act, 2013.
The name of the company must include the term “Nidhi Limited.” The minimum paid-up equity share capital must be Rs. 10 lakhs. The net owned funds of the company should not be less than Rs. 20 lakhs or any higher amount prescribed by the central government.
Objectives and Activities:
The primary objective of a Nidhi Company is to cultivate the habit of thrift, savings, and provide loans to its members. Nidhi Companies primarily deal with accepting deposits and lending to their members. They are not allowed to engage in chit fund activities, issue preference shares, or deal with any other securities except shares issued to members.
Membership and Deposits:
Membership is limited to individuals only, and corporate entities cannot become members. Nidhi Companies must have a minimum of 200 members within one year of incorporation. The maximum amount of deposit that can be accepted from a member cannot exceed 20 times the net owned funds of the company.
Lending and Interest Rates:
Nidhi Companies can provide loans only to their members, and the loans are to be secured against gold, immovable property, or other acceptable forms of security. The interest rate charged on loans must not exceed 7.5% above the highest rate of interest offered on deposits.
The Nidhi Rules and Regulations, 2014, provide the regulatory framework for Nidhi Companies in India. These rules govern the formation, registration, objectives, activities, membership, lending, governance, compliance, and reporting requirements of Nidhi Companies
