My name is shivam sinha this is for the testing purpose
11 Feb, 2023
Nidhi Company belongs to the non-banking Indian finance sector and is distinguished under the Companies Act,2013. Its core business structure is borrowing and lending money among its members.
' Nidhi' stands for National Initiative for Developing and Harnessing Innovations. Where "Nidhi” means finance or fund. Nidhi Company is incorporated to extend savings and also source finances among members only. It's allowed to take/lend loans from/to members.
They're regulated by the Ministry of Corporate Affairs, Section “406” of Companies Act 2013 and corporations Nidhi Companies Rules, 2014 govern Nidhi companies.
Step 1: Apply for DSC: To obtain Digital Signature Certificate following documents are required.
Step 2: Apply for DIN: After acquiring the Digital Signature Certificate (DSC), the next step is to apply for the Director Identification Number (DIN) of the proposed Director in SPICe Form along with the name and the address proof of the director.
Step 3: Name Approval Application: The next step and a very important step while incorporating a Nidhi Company is to decide on the name of the Company.
Step 4: Documents Required: MOA & AOA requires to be submitted at the ROC
Step 5: Filing Forms with MCA: All these documents will be attached with SPICe Form, SPICe-MOA and SPICe-AOA along with the DSC of the Director, and will be uploaded to the MCA site for approval.
Step 6: Issue of certificate of Incorporation: On further verification, the Registrar of Companies (ROC) will issue a Certificate of Incorporation and we can commence our business.
As it could be easily formulated because of the less documentation and Limited Liability. If you too are wondering to set up a Nidhi Company, then the Online Legal India™ expert team can take care through the documentation process. We have a highly qualified CA/CS and 10+ years of experienced lawyers who would assist you to Register your Nidhi Company We have budgeted services for those who are willing to venture into a company, business or any other kind of organization.
Apart from getting registered with MCA, any business personnel must also register with GST, TAX and Compliances, Accounting, Trademark Registration, or creative assistance in Logo Designing and Import Export Code registration to step a foot forward in the Foreign market. To deliver your digital assistance we have the best minds in the industry for your business incorporation, our concierge work round the clock to give you a hassle-free Nidhi Company online.
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