Nidhi Company Registration In Jaipur

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Nidhi Company Registration in Jaipur

Nidhi Company Registration in Jaipur is ideal for entrepreneurs looking to promote savings and provide financial assistance within a closed group of members. A Nidhi Company is a special type of company recognized under Section 406 of the Companies Act, 2013, formed with the primary objective of encouraging thrift and savings among its members.

Nidhi Companies fall under the category of Non-Banking Financial Companies (NBFCs); however, they are regulated by the Ministry of Corporate Affairs (MCA) and are exempt from most regulations of the Reserve Bank of India (RBI). This means no RBI license is required to operate a Nidhi Company.

Process for Nidhi Company Registration in Jaipur

Step 1: Obtain Digital Signature Certificate (DSC)

Digital Signature Certificates are mandatory for all proposed directors, as the entire Nidhi Company registration process in Jaipur is completed online.

Step 2: Obtain Director Identification Number (DIN)

Directors must apply for a DIN through the MCA portal. If a director already has a DIN, this step can be skipped.

Step 3: Company Name Approval

Apply for name approval through the MCA portal. The proposed name should be unique and typically end with “Nidhi Limited”, clearly reflecting the company’s nature.

Step 4: Drafting MOA and AOA

Prepare the Memorandum of Association (MOA) and Articles of Association (AOA). The MOA must clearly state the objective of cultivating savings and providing loans exclusively to members.

Step 5: Filing SPICe+ (INC-32) Form

File the SPICe+ (INC-32) form with the Registrar of Companies (ROC) for company incorporation, DIN allotment, and name reservation.

Step 6: PAN, TAN & Bank Account

Upon incorporation, PAN and TAN are automatically issued, and a company bank account can be opened.

Step 7: Apply for Nidhi Status

Post-incorporation, the company must fulfill requirements under Nidhi Rules, 2014, including:

  • Minimum 200 members

  • Net Owned Funds of ₹10 lakh or more

  • Prescribed deposit-to-NOF ratio

Step 8: Filing of NDH-1 Form

File Form NDH-1 within 90 days from the end of the first or second financial year (whichever is earlier), certified by a practicing CA, CS, or CMA.

Step 9: Filing of NDH-2 (If Required)

If requirements are not met, apply for an extension using Form NDH-2 with the Regional Director.

Step 10: Annual Compliance

File half-yearly returns in Form NDH-3 and complete annual ROC filings to remain compliant.

 

Documents Required for Nidhi Company Registration in Jaipur

Director & Shareholder Documents

  • PAN Card of all directors

  • Aadhaar Card / Passport / Voter ID / Driving License

  • Latest Passport-Size Photographs

  • Email ID and Mobile Number

   Address Proof

  • Latest Electricity / Water / Gas / Telephone Bill

  • Rent Agreement (if rented premises)

  • No Objection Certificate (NOC) from property owner

  Additional Documents

  • Draft Memorandum of Association (MOA)

  • Draft Articles of Association (AOA)

  • Business address proof (not older than 2 months)

 

How Taxvarsha team will help in the Nidhi Company Registration Process?

 

We believe in complete hand holding of our client; we will assign a personal manager to help you complete the entire process of Nidhi Company Registration in Jaipur.

We will assist you in following areas:

  1. Company Name Search
  2. Company Name Approval
  3. Obtaining DIN (Upto 2 Directors)
  4. Assist in drafting of MOA & AOA
  5. Filing of SPICe+ Form on the MCA portal
  6. Getting you your company’s Certificate of Incorporation, PAN & TAN

Advantages of Nidhi Company Registration in Jaipur

FAQs

What is a Nidhi Company?

A Nidhi Company is a type of company registered under Section 406 of the Companies Act, 2013, formed to promote the habit of thrift and savings among its members. It operates on a mutual benefit principle and deals only with its registered members by accepting deposits and providing loans.

Although a Nidhi Company falls under the NBFC category, it is regulated by the Ministry of Corporate Affairs (MCA) and not by the Reserve Bank of India (RBI). Unlike other NBFCs, Nidhi Companies:

  • Do not require an RBI license

  • Can deal only with members

  • Have limited and specific financial activities

The main activities of a Nidhi Company include:

  • Accepting deposits from its members

  • Providing loans to its members for mutual benefit
    All activities must strictly comply with the Nidhi Rules, 2014.

An individual can become a member of a Nidhi Company by:

  • Submitting a membership application

  • Fulfilling KYC requirements

  • Purchasing minimum required shares of the company
    Only members are eligible to deposit or borrow funds

Yes, Nidhi Companies are considered relatively safe as they are regulated by the MCA and operate within strict legal limits. However, since they are not RBI-regulated, investors should evaluate the company’s financial health, compliance record, and management before investing.

To start a Nidhi Company in India, the following requirements must be met:

  • Minimum 7 members and 3 directors at incorporation

  • Company name ending with “Nidhi Limited”

  • Minimum paid-up equity share capital of ₹5 lakh

  • Compliance with Nidhi Rules, 2014

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