Embark on a financial journey focused on thrift and mutual assistance with a Nidhi Company, a unique type of non-banking financial institution (NBFC) in India. Corporate Wheel is your partner in establishing and managing Nidhi Companies, designed to cultivate saving habits among members and provide a source of funds for financial assistance within the community.
Key Features and Benefits of Nidhi Companies:
Incorporation:
- Nidhi Companies are incorporated as public limited companies, and “Nidhi Limited” must be part of their name.
Membership:
- Membership is restricted to shareholders or members who contribute to the common fund of the company.
Objectives:
- Promote the habit of saving and thrift among members, lending funds exclusively to members. Activities are restricted to members only.
Minimum Members:
- A Nidhi Company must have a minimum of 200 members within one year of incorporation.
Minimum Net Owned Funds (NOF):
- NOF requirement is specified by the regulatory authority, with a minimum of Rs. 10 lakhs.
Loan Limit:
- Regulatory authorities limit the maximum amount a Nidhi Company can lend to its members for housing, repairs, and other purposes.
Interest Rates:
- Nidhi Companies are not allowed to charge interest rates higher than those prescribed by the regulatory authority.
Branches:
- Nidhi Companies are permitted to open branches, subject to certain conditions and restrictions.
Regulation:
- Regulated by the Ministry of Corporate Affairs (MCA) and subject to the Nidhi Rules, 2014.
Why Choose Corporate Wheel for Nidhi Company Services?
Regulatory Compliance Expertise:
- Navigate the complex regulatory landscape with our expertise in Nidhi Company regulations.
Financial Planning Assistance:
- Receive support in managing financial aspects, including NOF requirements and lending limits.
Branch Expansion Guidance:
- Guidance on opening branches while adhering to regulatory conditions and restrictions.
Comprehensive Regulatory Compliance:
- Ensure compliance with the Ministry of Corporate Affairs and Nidhi Rules, 2014.
Cultivate Savings and Mutual Assistance with a Nidhi Company:
Join the movement of thrift and financial assistance within your community with the establishment of a Nidhi Company. Whether you’re initiating a new venture or transitioning an existing one, Corporate Wheel provides the expertise and support needed for a successful journey. Contact us today to explore the possibilities and initiate positive change through your Nidhi Company. Let Corporate Wheel be your trusted partner in unlocking the full potential of your Nidhi Company.
