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WHAT ARE THE REQUIREMENT FOR REGISTRATION OF NIDHI COMPNY IN HYDERABAD?

WHAT ARE THE REQUIREMENT FOR NIDHI COMPNY REGISTRATION ONLINE IN HYDERABAD ? JUST 5 STEPS

Introduction

YOU NEED TO KNOW WHAT ARE THE REQUIREMENT FOR NIDHI COMPANY REGISTRATION ONLINE IN HYDERABAD?

Nidhi Company registration Online in Hyderabad, you generally need to fulfill requirements such as a minimum of seven members, incorporation under the Companies Act, a minimum capital requirement, and adherence to Nidhi rules. Additionally, you must submit necessary documents, including address proof, identity proof, and PAN cards of directors. Consulting with a legal professional is advisable to ensure compliance with specific regulations and procedures.Visitofficialwebsite

Eligibility Criteria of nidhi company

Before initiating the registration process for a Nidhi Company, it’s crucial to ensure that your company meets the eligibility criteria as prescribed by the Companies Act, 2013:

  • Minimum Members: A Nidhi Company must have at least 200 members within one year of its incorporation.

  • Minimum Capital Requirement: It should have a minimum paid-up equity share capital of Rs. 5 lakhs.

  • No Preference Shares: A Nidhi Company cannot issue preference shares.

  • Object Clause: The primary objective of a Nidhi Company should be cultivating the habit of thrift and savings among its members, receiving deposits from them, and lending to them for their mutual benefit. Nidhi Company registration Online in Hyderabad

Directors and Management:

  • Directors: A Nidhi Company must have at least three directors, with a minimum of two-thirds of them being individuals. Each director should have a Director Identification Number (DIN).

  • Board Meetings: The company must hold a minimum of four board meetings in a year, with an interval of not more than 120 days between two consecutive meetings.

  • Appointment of CEO: A Nidhi Company should appoint a Chief Executive Officer (CEO) who should be a director.

Company Name Reservation:

Nidhi Company registration Online in Hyderabad Choose a unique and appropriate name for your Nidhi Company. Make sure that the name is not identical or similar to an existing company or trademark. You can check the availability of the name on the Ministry of Corporate Affairs (MCA) portal.

Registration Application:

Submit the application for the registration of your Nidhi Company to the Registrar of Companies (RoC). This application should include the following documents and information: Nidhi Company registration Online in Hyderabad

  • MoA and AoA
  • Names, addresses, and PAN cards of the directors
  • Address of the registered office
  • Declaration by the directors affirming the company’s intention to comply with all Nidhi Company rules
  • Statement of accounts and financial projections

Compliance with Nidhi Rules:

Nidhi Companies must adhere to various regulations under the Nidhi Rules, 2014. These rules include:

  • Deposits: Nidhi Companies can accept deposits only from their members.
  • Lending: They can lend only to their members.
  • Interest Rates: The interest rate charged on loans should not exceed 7.5% above the highest rate offered on deposits.
  • Reserve Fund: They are required to transfer at least 20% of their profits to a reserve fund until it reaches 10% of their outstanding deposits.
  • Fixed Deposits: Nidhi Companies are not allowed to offer fixed deposit schemes.
  • Membership: Membership of Nidhi Companies is limited to individuals and entities specified in the Nidhi Rules.

Audit and Compliances:

Conduct an annual audit of the company’s accounts and file the necessary financial statements with the RoC.

It’s crucial to remain updated with the latest regulatory changes and guidelines issued by the Ministry of Corporate Affairs (MCA), the Reserve Bank of India (RBI), and other relevant authorities, as Nidhi Company regulations may evolve over time. Consulting a legal or financial advisor with expertise in Nidhi Company registrations is advisable to ensure full compliance with all requirements. This comprehensive guide provides a general overview of the requirements for registering a Nidhi Company in Hyderabad, but specific details may vary depending on the company’s unique circumstances and the evolving regulatory landscape. Nidhi Company registration Online in Hyderabad

How can I register my Nidhi Company online

  1. Application for Digital Signature Certificate (DSC) …
  2. Application for the Name Availability. …
  3. Filing of SPICe Form (INC-32) …
  4. Filing of e-MoA (INC-33) and e-AoA (INC-34) …
  5. Step 5: Issuance of DIN, PAN, TAN & Certificate of Incorporation.

How do register a nidhi company through company help

Nidhi company registration in India is regulated by the rule & regulations specified under section 406 of companies act, 2013. The word “Nidhi” is used in reference to a treasure/a fund i.e. the company so incorporated has the primary objective of inculcating a habit of savings amongst its members. Nidhi Company registration Online in Hyderabad

Some of the interesting features related to NIDHI company registration are:

Borrowing & Lending: A Nidhi Company cannot lend & borrow from outside its member community.

“Nidhi ltd.”: “Nidhi limited” must be added to the name of the company.

Share capital: Minimum equity share capital of INR 5 lakh is required Nidhi Company. You cannot issue preference shares once registered as Nidhi company.

No. of members: At least 7 members must be there to start a Nidhi company. Out of which 3 must be the full-time directors of the company.

PROCEDURE OF NIDHI COMPANY REGISTRATION

>>> Apply for DSC/DIN

>>> Check proposed Nidhi company name availability with ROC/MCA

>>> Submit MOA/AOA Certificates

>>> Apply for PAN/TAN

>>> Opening of current account in bank

>>> Get your NIDHI company registration after successful verification of documents.

documents required to register nidhi company in hyderabad

To register a Nidhi Company in Hyderabad, you’ll need to provide several documents and pieces of information as part of the registration process. These documents are crucial to ensure compliance with the Companies Act, 2013, and the Nidhi Rules, 2014. Here is a list of essential documents and information required for registering a Nidhi Company in Hyderabad: Nidhi Company registration

  1. Digital Signature Certificates (DSCs):

    • DSCs are needed for all proposed directors and the Chief Executive Officer (CEO). DSCs are required for filing online applications with the Registrar of Companies (RoC).
  2. Director Identification Number (DIN):

  3. Memorandum of Association (MoA) and Articles of Association (AoA):

    • Draft the MoA and AoA for your Nidhi Company. These documents detail the company’s objectives, rules, and regulations. Ensure they comply with the Nidhi Rules, 2014, and the Companies Act, 2013.
  4. Proof of Registered Office Address:

    • Provide proof of the registered office address, such as a rent agreement, lease deed, or a utility bill. The registered office should be located within the jurisdiction of the respective Registrar of Companies (RoC) in Hyderabad.
    • Nidhi Company registration
  5. Board Resolution:

    • A certified copy of the board resolution declaring the intent to establish a Nidhi Company and authorizing directors to file the incorporation documents.
  6. Declaration by Directors:

    • A declaration from all directors confirming their intent to comply with the Nidhi Rules and Regulations, along with other legal requirements.
  7. PAN and Aadhar Card of Directors:

    • Copies of PAN and Aadhar cards of all directors.
  8. Passport-sized Photographs:

    • Recent passport-sized photographs of all directors and the CEO.
  9. Registered Office Verification:

    • Verification of the registered office address is necessary. This may involve an inspection by the RoC.
  10. Subscription Money Proof:

    • Proof of the initial capital contribution by the promoters in the company’s bank account. The minimum paid-up share capital should be Rs. 5 lakhs, as mentioned in the MoA. Nidhi Company registration Online in Hyderabad
nidhi company registration online in hyderabad | nidhi company registration online | nidhi company registration

How to start a Nidhi limited company

Step 1: Applying for DIN and DSC. …

Step 2: Name Approval. …

Step 3: MoA & AoA. …

Step 4: Certificate of Incorporation (CIN) …

Step 5: PAN, TAN and Bank Account.

What are the benefits of Nidhi Company

  • The Nidhi Company strives to help its members save more money.
  • Making gifts and obtaining loans from the business for its members is quite simple.
  • Members are encouraged to save more since loans are provided at a rate that is lower than the market rate.
  • Nidhi Company registration Online in Hyderabad

What are the requirements for registration of Nidhi Company

  • Directors Identification Number (DIN)
  • PAN numbers of the shareholders as well the Directors.
  • Residential Proof of the shareholders and directors.
  • Identification Documents such as the Aadhar card.
  • Rent agreement of the Registered office.
  • Nidhi Company registration Online in Hyderabad

What is the maximum interest rate for Nidhi Company

Rate of Interest on Deposits Offered By Nidhi Company Loan System. The Interest shall not exceed the maximum rate prescribed by the RBI, which the NBFC can pay to its public deposits. The maximum rate of Interest offered by Nidhi Company is 12.5%.Nidhi Company registration Online in Hyderabad

how auriga accounting help you to register nidhi company

Auriga Accounting is a financial services firm that provides a range of services, including assistance with the registration of Nidhi Companies. They can play a crucial role in simplifying the registration process and ensuring that your Nidhi Company in Hyderabad is compliant with all legal and regulatory requirements. Here’s how Auriga Accounting can help you with the registration of a Nidhi Company registration Online in Hyderabad

  1. Expert Guidance:

    • Auriga Accounting has a team of professionals with expertise in company registration, compliance, and financial services. They can provide expert guidance throughout the registration process.
  2. Document Preparation:

    • They can assist you in preparing all the necessary documents required for Nidhi Company registration. This includes drafting the Memorandum of Association (MoA), Articles of Association (AoA), and other legal documents to ensure compliance with the Nidhi Rules and the Companies Act, 2013. Nidhi Company registration
  3. Digital Signature Certificates (DSCs) and Director Identification Numbers (DINs):

    • Auriga can help you obtain DSCs for the directors and guide you through the process of applying for DINs, which are essential for company registration.
  4. Company Name Reservation:

    • They can assist you in selecting a unique and suitable name for your Nidhi Company and check its availability with the Ministry of Corporate Affairs (MCA).
  5. Registration Application:

    • Auriga can prepare and file the registration application with the Registrar of Companies (RoC) on your behalf. This includes submitting all the required documents and information in compliance with the Companies Act and Nidhi Rules.
  6. Compliance with Nidhi Rules:

    • Auriga Accounting ensure that your company’s operations, objectives, and documents align with the Nidhi Rules and Regulations, as specified by the regulatory authorities. Nidhi Company registration
  7. Address Verification:

    • Assistance in verifying the registered office address and providing the required documentation to comply with this requirement.
  8. Financial Compliance:

    • Auriga Accounting help you set up the initial capital requirement of at least Rs. 5 lakhs, ensuring it is deposited in the company’s bank account.
  9. Ongoing Compliance and Reporting:

    • After registration, they can assist you with ongoing compliance, including annual financial audits, filing of returns, and maintaining statutory records as per regulatory requirements.
  10. Tax Registration:

    • Guidance and assistance in obtaining Permanent Account Numbers (PAN) and Tax Deduction and Collection Account Numbers (TAN) for your company. Nidhi Company registration Online in Hyderabad
May 26, 2024

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