SMCThe word 'Nidhi' means wealth, So, The Nidhi Company is a Mutual Benefit Company that deals in only with its shareholders or members to raise money or lend it back to shareholders. The main work of the Nidhi Company is to develop the habit of savings of the members of company. Nidhi Company is also known by Nidhi, Requirements for Nidhi Company Registration in India: -
These below given are the
- It should contain 'Nidhi Limited' in the name of the company.
- Minimum number of members should be 200 and minimum number of directors should be 3 to incorporate a Nidhi Company.
- Minimum Authorized capital for Nidhi company is 5,00,000/- (Five Lacs Only)
These are some requirements for the Formation of Nidhi Company. Whereas the Nidhi registration takes generally 20 to 25 days.
Advantages of Nidhi Limited Company: -
- Easy financial services with minimum formalities for the middle and lower classes people.
- Loans and investments are available for small wage earners.
- Nidhi is fully a venture of members, there is no any external scope or it is not governed by any trust.
- Nidhi is barred from the brokerage on deposits and marketing works.
Require Documents for Nidhi Registration:
- * Copy of “PAN CARD” of all directors / Promoters.
- * Copy of “ADDRESS PROOF” of all Directors/Share Holders ( Any one)
- * Latest color passport size "PHOTOGRAPH” of all directors / Promoters.
- * Copy of “BANK STATEMENT” of all directors / promoters
- * Copy Registered office “ADDRESS PROOF”
- * Electricity Bill along with Rent Agreement / or
- * Ownership proof of proposed registered office.
o Voter Id
o Driving License
o Aadhar Card