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Nidhi Company Registration
All you need to know about establishing a Nidhi
Company
Nidhi
Company is a Non-Banking Financial Company (NBFC) which does not require any
license from the RBI. Anybody can register a Nidhi Company; there is not
much hindrance in incorporation, nor are there any prescribed
qualifications for its owners.
“Nidhi”
is a Hindi word, which means finance or fund. Nidhi means a company which has
been incorporated with the object of developing the habit of thrift and reserve
funds amongst its members and also receiving deposits and lending to its
members only for their mutual benefit. Nidhi
Companies cannot deal with anybody other than its members. It requires minimum
3 members and must end with word as “Nidhi Limited” as part of its name.
A
Nidhi company to be incorporated as a Public Company with minimum paid up
equity share capital of Rs.5,00,000/-.It shall not issue preference. If
preference shares had already been issued by a Nidhi Company before
commencement of this Act, such preference shares are to be redeemed in
accordance with the terms of issue of such shares.
