Nidhi Company Registration

1. Minimum Three Directors and Seven Shareholders (directors and shareholders can be same).
2. At least 2 Unique Names required for reservation – name should not be same or similar to an already registered company, LLP or a Trademark.
3. Minimum Share Capital of Rs 5,00,000/-.
   (NIDHI Company must ensure within a period of 1 year from the commencement that its share capital is not less than Rs 10 Lakhs.)

Documents Verification –

Our dedicated expert will verify all the documents of Director/Shareholder and other required documents.

Name Reservation –

The proposed name is applied and obtained from the Ministry of Corporate Affairs. 2 names can be provided. In case of rejection of both names, an opportunity is provided for re-submission of the form with 2 more names. Starteasy will help you while deciding the Name of Company.

Application for Digital Signature Certificate (DSC)–

DSC will be obtained for proposed Director/Shareholder.

Drafting of MOA & AOA and Other Documents –

Documents like NOC, Consent Letter, Specimen Signature etc. will be prepared and sent to promoters for signature. Once Signed documents are received STARTEASY experts will prepare MOA, AOA and other required forms.

Filling of Forms with ROC for Incorporation –

All these forms Spice+, MOA, AOA etc. needs to file with Concerned ROC and this mentioned process finally culminates into the registration of the Section 8 Company with issuance of Certificate of Incorporation. Certificate of Incorporation is conclusive evidence of Registration of Section 8 Company.

1) Limited Liability –

liability of a shareholder extends only up to the number of shares held by them. In a case of default, banks / creditors can only sell company’s assets but not personal assets of directors.

2) No RBI Approval –

NIDHI Company does not require RBI approval for its functions unlike all other financial institutes.

3) Encourage Saving Habits –

Nidhi Company encourage, afford all facilities for cultivating thrift, savings or money from its members of all categories as deposits i.e. Fixed Deposits (F.D.), Recurring Deposits (R.D.), Monthly Income Scheme (MIS), Term Deposit (T.D.).

4) Perpetual Succession  –

It gives you the freedom to easily add or remove members in the company

5) Tax Advantages –

The Nidhi Companies are only taxed on their profits. This gives Public companies Tax Advantages over sole proprietorship and partnership registration.

Statutory Auditor Appointment – (Within 30 Days)

• • Board of Directors has to appoint Auditor within 30 days from the date of Incorporation.
  • Only Practicing Chartered Accountant can be appointed as Auditor.

Commencement of Business – ( Within 180 Days)

• • Within 180 days from the date of Incorporation, Company needs to deposits its share capital amount in the Bank Account and needs to file INC-20A with MCA.

Income Tax Filling – ( Up To 30^th Sept)

• • Every Company needs to file Income Tax Return (ITR-6) upto 30th September and Income Tax Audit will be applicable to those Companies whose Turnover is more than 1 crores.

Roc Annual Filling – ( Up To 30^th Oct)

• • Every Company needs to file Annual Return in Forms of AOC-4 and Management Related Return in Form of MGT-7 upto 30^th October.

Form NDH-1 – (Within 90 Days)

Nidhi Company has to file Form NDH-1 within 90 days from the date of closer of Financial Year.

Form NDH-3 –  

Nidhi Company needs to file Form NDH-3 within 30 days from the conclusion of each half year.

Form NDH-4 –  

Every Nidhi Company which is incorporated on or after 28th April 2014 needs to file Form NDH-4 for declaration and updating the status of Nidhi Company.

Director KYC – ( Up To 30^th Sept)

All Directors of company have to complete their DIN KYC every year before 30^th September.

DSC (Digital Signature Certificate) –

an electronic document issued by a Certificate Authority. DSC is used for making signature on soft copies i.e. Certificates serve as proof of identity of an individual for a certain purpose.

Authorized Capital–

Authorized capital is maximum amount of share capital, that Company is authorized to Issue to the Shareholders. It can be increase at any time by shareholders approval.

Paid Up Capital –

Paid up capital is amount of money company has received from its shareholder against purchase of Company’s shares by the Shareholder. Paid up capital is always less than Authorized Capital of the Company.

MOA (Memorandum of Association)-

MOA contains the Main and Ancillary Object Clause of the Company. It is Constitution of the Company and it has to be filed with ROC (Registrar of Companies) at the time of registering the Company. It Contains 6 Clauses i.e. –

1. 1. Name Clause – What is Name of the Company
   2. Situation/Registered State Clause – Where the Registered office of the Company is Located
   3. Object Clause – What is the objects of the Company
   4. Liability Clause – It shows up the Liabilities of the members of the Company
   5. Capital Clause – Its Shows authorized capital of the Company
   6. Subscriber of the Company – It shows the names of Subscriber to the memorandum.

AOA (Article of Association)-

AOA is rules, regulations and the bye-laws for the internal management of the company, the conduct of its business. The Articles of a company have often been compared to a rule book of the company’s working that regulates the management and powers of the company and its officers.

Timeline to Register a Company-

With STARTEASY you will get Registration of your Company within 8-10 Days.

Proceeding time would vary depending upon time taken by client to submit documents and time taken by government authorities.