NIDHI COMPANY

Registering a NIDHI Company lets you create a trusted, community-based savings and lending group. At JR Compliance, we make the process easy and accessible, handling every step with care so you can focus on growing your network.
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Service Overview

The National Initiative for Developing and Harnessing Innovations (NIDHI) is a community-driven financial organization in which members can save and borrow from within the organization. Associations, which are registered under the Companies Act 2013 and as per RBI guidelines, fit perfectly for savings small group rotating trusts. JR Compliance handles the registration and documentation work, making the hassle of setting up such activities quite easy and carefree.

‍Challenges of Filing for a Private Limited Company

Complex Procedures
The formation of the private limited company is quite complex as it requires many legal formalities.
Time-Consuming
Sometimes, its exhausting to gather all the necessary papers and fill out all necessary documents.
Share Limit
In a Private Limited Company there is a limit of 200 shareholders, with a restricted limit on share transfers.
Business Commencement
Within 180 days of registering a Private Limited Company, the certificate of commencement of business must be obtained.

‍Challenges of Filing for a NIDHI Company

Navigating Documentation for NIDHI Registration
Setting up a NIDHI Company requires quite a few documents, and missing any can delay the process. We help ensure you’re fully prepared with everything you need from the start.
Understanding NBFC Compliance Standards
Managing a NIDHI Company involves meeting specific standards for non-banking financial companies. Our team guides you through these rules, making compliance easy to understand and follow.
Ensuring Transparent Member Services
Transparency is essential in a NIDHI Company, especially when handling member funds. We set up clear, transparent processes for the convenience and comfort of every member involved.
Meeting Financial Reporting Requirements
Audits and financial statements need to be maintained up to date in order to keep your NIDHI company in conformity. Our support ensures you stay on top of these, making it simple to stay in good standing.

Advantages Of Registering A NIDHI Company

Build a Trustworthy Financial Community
With a NIDHI Company, you can foster a trusted group where members save and lend safely within a supportive network.
Simplified Registration with Dedicated Help
We streamline the entire registration process, so you get set up quickly and without the hassle of navigating complex requirements alone.
Security for Your Savings and Lending Needs
NIDHI Companies provide members with secure, regulated financial support, offering peace of mind for everyone involved.
Affordable, Member-Friendly Financial Solutions
Designed to be budget-friendly, NIDHI Companies help members access affordable financial services and build savings.

Service Process

01
Consultation and Assessment
We begin with an overview, helping you understand the NIDHI Company setup and how it can work for your community.
02
Document Preparation
Our team organizes all required documents, ensuring a complete and accurate application.
03
Filing the Application
We submit your application to the Registrar of Companies, guiding you through every step.
04
Post-Registration Compliance Support
After registration, we offer guidance to help you meet ongoing compliance standards.
05
Regular Compliance Updates
Stay updated on new requirements, audits, and reporting needs with our dedicated support team.
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Service Process

Consultation
We will have a consultation regarding your business vision and requirements to decide on whether the private limited company fits you well.
Documentation
We will help you to do the paperwork involving preparation of the Memorandum of Association and Articles of Association.
Registration
We will then forward all the necessary documents to the Registrar of Companies as required for registration.
Support
We will always be here with you to offer assistance and advice so that you can efficiently run your private limited company.
Compliance:
We will assist you in maintaining a continuing compliance with all legal and regulatory standards.
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Service Process

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Complete support from planning to registration, taking the hassle off your plate.

Extensive knowledge in compliance for seamless, stress-free processing.

Transparent, reliable service that keeps you informed every step of the way.

Experienced experts ready to handle all NIDHI Company needs with care.

Why Choose JR Compliance?

Service Breakdown

Eligibility

Eligibility

Community-driven: A NIDHI company must be setup in order to help and support the community.
Capital investments: To be involved in pooling capital for collective financial benefit.
Compliant with NBFC norms: Must adhere to the rules set for the Non-Banking Financial Companies (NBFCs).
MCA registration: Official registration with the Ministry of Corporate Affairs (MCA) is required.

Documents

Documents

Memorandum and Articles of Association (MoA & AoA): Governing documents for the operational framework under Nidhi company rules, 2014.
Directors’ KYC Documents: PAN, Aadhaar, and address proof for all directors.
Proof of Registered Office: Ownership document, NOC from the owner, or a rental agreement.
List of Shareholders: A detailed list with shareholding ratios for company members, that is a minimum requirement of 200 members should be met within one year of incorporation.
Net Worth Certificate: Auditor’s certification confirming the required net worth of ₹10 lakhs.

Who Needs

Who Needs

Community groups: Designed for those organizations that center around shared interests and mutual goals.
Savings-focused associations: Ideal for groups that practice pooling resources and promote savings.
Financially supportive networks: Perfect for networks that wish to offer financial assistance and support to the members.
Cooperative clubs: Best for clubs formed to achieve common financial goals together.

Creating

Trust-Driven Relationships

JR Compliance is one of the known name for BIS certification, they are well versed with processes and guide client properly.
Kartik Shah
Published on 4 March 2024
We have outsourced the entire BIS certification responsibility of our panels to JR compliance since 2017 and their service so far has been exemplary.
P N Dhawanjewar
Published on 4 March 2024
We have been using JR Compliance services since last 3 years on various BIS related registration & testing of our various IT & electronic products. We really appreciate your full-fledged & excellent support in all respect in this matter.
K Narayanan
Published on 4 March 2024
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FAQ

How much capital is required to register a NIDHI Company?
The minimum capital requirement is ₹10 lakh, along with specific documents and compliance steps to ensure a smooth setup.
How many days does the NIDHI company registration take?
NIDHI registration of the company can require 15 to 20 days for processing, but this varies with regard to the documents, their preparation and official clearances.
Are NIDHI Companies allowed to provide services to those who are not their members?
No, NIDHI Companies can only lend and take deposits from their registered members to keep transactions secure.
Are NIDHI Companies regulated by the RBI?
While registered as NBFCs, NIDHI Companies are overseen by the Ministry of Corporate Affairs rather than directly by the RBI.
What ongoing compliance is required for a NIDHI Company?
NIDHI Companies must regularly submit financial reports, keep member records, and maintain financial transparency for accountability and trustworthiness.

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