Requirements List for Nidhi Company?

Nidhi companies are non-banking financial institutions that are regulated by the Ministry of Corporate Affairs and the Reserve Bank of India. These companies are primarily established to provide loans to their members and are governed by the Nidhi Rules, 2014.

1. Minimum of three directors and seven shareholders are required to incorporate a Nidhi company.
2. The company name must contain the words “Nidhi Limited” as a suffix.
3. The company’s main objective must be to lend and borrow money among its members and not to the general public.
4. A minimum paid-up capital of Rs. 5 lakh is required to register a Nidhi company.
5. The company must file an application for registration with the Registrar of Companies along with the required documents, such as the memorandum of association, articles of association, PAN and Aadhaar of all directors and shareholders, and other supporting documents.
6. The company must also comply with the rules and regulations set by the Reserve Bank of India for Nidhi companies, such as maintaining a certain net owned fund and submitting regular returns to the RBI.
7. Obtain a certificate of registration from the Reserve Bank of India, before commencing its operations as a Nidhi company.

It is important to note that the Nidhi company must also comply with the ongoing compliance requirements such as filing annual returns, holding annual general meetings, and appointing auditors. Additionally, the Nidhi company must also obtain a certificate of registration from the Reserve Bank of India before commencing its operations as a Nidhi company.