What Do You Get In Nidhi Company

• 1 RUN Application Form
•  3 Director Identification Number
•  7 Digital Signature
•  Memorandum Of Association
•  Article of Association
•  PAN Card Of Company
•  TAN Number Of Company
•  Certificate Of Incorporation
•  Board Resolution To Open Bank Account
•  GST Registration
•  Share Certificate
•  Up to 5 Lakhs Authorized Capital

Applicability

• The Central Government made ‘Nidhi Rules, 2014’ to carry out the objectives of ‘Nidhi’ companies. These rules shall apply to:

•  Every company which had been declared as a Nidhi or Mutual Benefits under Section 620A(1)of Companies Act, 1956;

•  Every company functioning on the lines of a Nidhi company or Mutual benefit society but has either not applied for or has applied for and is awaiting notification to be a Nidhi or Mutual Benefit Society under Section 620A(1)of Companies Act, 1956;

•  Every company incorporated as a Nidhi according to the provisions of Section 406of the Companies Act, 2013.

Requirements for Nidhi Company

• A Nidhi company to be incorporated under this Act shall be a Public Company.
•  It shall have a minimum paid-up equity share capital of Rs.5,00,000/-.
•  No preference shares shall be issued.
•  If preference shares had already been issued by a Nidhi Company before the commencement of this Act, such preference shares are to be redeemed following the terms of issue of such shares.
•  The object of the company shall be cultivating the habit of thrift and savings amongst its members, receiving deposits from and lending to its members only for their mutual benefits.
•  It shall have the words ‘Nidhi Limited’ as part of its name.

Documents Required For Nidhi Company Registration

• Pan Card : Pan Card is required for all the Directors and Shareholders of the company.

•  ID Proof : Driving License, Voter Id Card or Passport. Anyone Id Proof is required for all the Directors and Shareholders of the company.

•  Bank Statement : The latest Bank Statement not older than 2 months is required for all the Directors and Shareholders of the company.

•  Passport Size Photo : A passport size photograph is required for all the Directors and Shareholders of the company.

•  Registered Office Proof : Latest Utility bill not older than 2 months, Rent agreement in case of rented property Registry Proof or House Tax Receipt in case of owned property and No Objection Certificate (NOC) from the owner.

Penalty

 If a company contravenes any of the provisions of the rules the company and every officer of the company who is in default shall be punishable with fine which may extend to Rs.5,000/- and where the contravention is a continuing one, with a further fine which may extend to Rs.500/- for every day after the first during which the contravention continues.