Company Incorporation: You’ll need to incorporate a public limited company under the Companies Act, 2013. This is typically done through the Registrar of Companies (RoC) in the state where the company’s registered office is located.
Minimum Requirements:
Minimum of 7 shareholders (members).
Minimum of 3 directors.
Minimum paid-up capital of Rs. 5 lakh.
The word “Nidhi Limited” should be part of the company’s name.
Drafting of Memorandum and Articles of Association: Draft and file the memorandum and articles of association of the company with the RoC. These documents should include the objectives and rules for the Nidhi Company.
Registered Office: Provide the address for the registered office of the company. This address will be used for official correspondence.
Appointment of Directors: Appoint at least three directors who are Indian citizens and have a Director Identification Number (DIN). Ensure that one-third of the directors retire by rotation and are replaced at each Annual General Meeting (AGM).
Capital Subscription: Obtain the capital from the members. The minimum share capital should be Rs. 5 lakh, and each member should subscribe to a minimum of 10 shares.
Apply for Certificate of Incorporation: Submit the necessary documents and forms, including the application for the certificate of incorporation, to the RoC.
Obtain PAN and TAN: After incorporation, obtain a Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) for the company.
Compliance with RBI Guidelines: Nidhi Companies need to comply with the RBI’s guidelines for NBFCs. This includes maintaining a minimum net owned fund (NOF) of Rs. 10 lakh and ensuring that at least 10% of the deposit amount is invested in specified securities.
