Nidhi Company Registration
Register your Nidhi Company under the Companies Act, 2013. A mutual benefit society dedicated to encouraging savings and deposits among members with expert compliance support.
Start Your RegistrationWhat is a Nidhi Company?
A Nidhi Company is a specialized type of Non-Banking Financial Company (NBFC) recognized under Section 406 of the Companies Act, 2013, and governed by the Nidhi Rules, 2014. It operates as a mutual benefit society focused on promoting the habit of thrift and savings among its members through borrowing and lending activities.
Key Features:
- Member-Only Operations: Activities limited to accepting deposits and lending money exclusively among members
- Regulatory Framework: Governed by Companies Act, 2013 and Nidhi Rules, 2014 with MCA oversight
- Minimum Members: Requires minimum 7 members at incorporation and 200 members within one year
- Mutual Benefit Focus: Promotes savings and financial discipline among member community
- Limited Business Scope: Cannot engage in Non-Nidhi activities or chit fund operations
- Simplified Compliance: Streamlined regulatory requirements compared to regular NBFCs
Advantages vs Disadvantages
✅ Key Advantages
- Easy Formation: Simplified registration process with minimal regulatory requirements
- Member Benefits: Mutual borrowing and lending facility among trusted community members
- Financial Inclusion: Promotes savings culture at grassroots level with community support
- Lower Compliance: Reduced regulatory burden compared to traditional NBFCs
- Community Trust: Built on mutual trust and benefit principles among members
- Flexibility: Democratic decision-making process with member participation
⚠️ Key Limitations
- Restricted Activities: Business operations limited to members only, cannot serve public
- Growth Limitations: Cannot expand beyond Nidhi Rules framework or engage in other financial activities
- Regulatory Constraints: Strict adherence to borrowing and lending limits prescribed by rules
- Member Dependency: Success depends entirely on active member participation and contributions
- Limited Capital: Restricted funding sources and capital mobilization opportunities
- Compliance Risk: Non-compliance can lead to regulatory action and license cancellation
Complete Registration Process
Step-by-Step Registration Procedure:
- Obtain Digital Signature Certificate (DSC) for all proposed directors from authorized certifying agencies
- Apply for Director Identification Number (DIN) for each director through MCA portal
- Reserve Company Name through RUN (Reserve Unique Name) system with appropriate Nidhi suffix
- Prepare MOA and AOA in accordance with Nidhi Rules, 2014 requirements
- File Incorporation Documents with ROC including all required forms and attachments
- Obtain Certificate of Incorporation from ROC after document verification
- Complete Post-Incorporation Formalities including PAN, TAN, and bank account opening
- Apply for Nidhi Company Declaration with MCA after meeting prescribed conditions
Documents Required for Registration
Director Documents
- PAN Card (mandatory)
- Aadhaar Card for eKYC
- Passport-size photographs
- Address proof documents
- Educational qualification certificates
Office Address Proof
- Property ownership documents or rent agreement
- NOC from property owner
- Utility bills (electricity, water, gas)
- Property tax receipts
- Municipal permission documents
Company Documents
- Memorandum of Association (MOA)
- Articles of Association (AOA)
- Digital Signature Certificates
- Director consent forms
- Declaration of compliance
Member Documents
- Member application forms
- Identity proof of initial members
- Member consent letters
- Share application forms
- Board resolutions
Post-Incorporation Compliance
Annual Compliance
- Annual Return Filing: Submit MGT-7 within 60 days of AGM
- Financial Statements: File AOC-4 within 30 days of AGM
- Annual General Meeting: Conduct AGM within 6 months of financial year end
- Statutory Audit: Appointment and conduct of annual audit
- Income Tax Return: File ITR with proper documentation
Ongoing Requirements
- Member Maintenance: Maintain minimum 200 members within one year
- Borrowing Limits: Adhere to prescribed borrowing and lending limits
- Reserve Requirements: Maintain statutory reserves as per Nidhi Rules
- Record Keeping: Maintain proper books of accounts and member records
- Regulatory Filings: Submit periodic returns and compliance certificates
Why Choose Credorra for Nidhi Company Registration?
Nidhi Specialists
Dedicated team with extensive experience in Nidhi Company registration and compliance management under the Companies Act, 2013.
- Expert in Nidhi Rules, 2014
- MCA compliance expertise
- Professional documentation
- Regulatory guidance
Complete Compliance
End-to-end assistance ensuring all legal and regulatory requirements are met with ongoing compliance support.
- Full regulatory compliance
- Timely MCA filings
- Error-free documentation
- Post-registration support
Expert Advisory
Comprehensive advisory services from incorporation to ongoing operations and member management guidance.
- Free initial consultation
- Member management guidance
- Annual compliance assistance
- Business advisory services
Contact Us for Nidhi Company Registration
Ready to establish your Nidhi Company? Our expert team provides comprehensive registration services with complete legal compliance and ongoing business support.
Visit Our Dehradun Office
Credorra Financial Services
15-A, Subhash Road, 2nd Floor
Near Preet Vihar Apartments
Dehradun-248001, Uttarakhand
Office Hours:
Monday to Saturday: 9:30 AM - 6:30 PM
Sunday: By Appointment Only
Nidhi Company Consultation: Free consultation available
Contact Information
Phone: +91 87662 68711
Email: hello@credorra.com
WhatsApp Support: +91 87662 68711
Specialization: Nidhi Company Registration & NBFC Services
Experience: 15+ years in financial services consultancy
Support: Complete Nidhi guidance and compliance available