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.

Submitted successfully

We have received your message. We will get back to you shortly

Oops! Something went wrong while submitting the form.

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.

Guaranteed

100%

This is some text inside of a div block.

Guaranteed

100%

This is some text inside of a div block.

Guaranteed

100%

This is some text inside of a div block.

Guaranteed

100%

This is some text inside of a div block.

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.

Service Process

Guaranteed

100%

This is some text inside of a div block.

Consultation

This is some text inside of a div block.

Guaranteed

100%

This is some text inside of a div block.

Consultation

This is some text inside of a div block.

Guaranteed

100%

This is some text inside of a div block.

Consultation

This is some text inside of a div block.

Guaranteed

100%

This is some text inside of a div block.

Consultation

This is some text inside of a div block.

Service Breakdown

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

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

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.

K Narayanan

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.

P N Dhawanjewar

Published on 4 March 2024

FAQ

Services

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.