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Nidhi Company Registration in Madurai and Karur

We Corpstore Business Solutions provides an excellent services in Nidhi Company registration in Madurai and Karur. Nidhi Company is a major type of Non-Banking Financial Company (NBFC). It is formed to borrow and lend money to its members with an objective to promote the habit of saving money among its members and works on the principle of mutual help. Nidhi companies are very popular among southern states in India.

Nidhi Companies are companies that belong to the non-banking Indian finance sector and are recognized under section 406 of the Companies Act, 2013. They are also called as Permanent Fund, Benefit Funds, Mutual Benefit Funds and Mutual Benefit Company. The word Nidhi means fund or finance. Nidhi company registration requires minimum 3 members. All the Nidhi company’s incorporated should have the last word as “Nidhi Limited” as part of its name. Nidhi Company is easy and economical to register.

Features of Nidhi Company

  • Nidhi Company should have a minimum of 200 shareholders
  • It must have net owned funds of ten lakh rupees or more than that.
  • Minimum 3 Directors and 7 Shareholders are required to incorporate the Nidhi Company
  • Nidhi companies can issue only rights shares and unsubscribed portion of rights issue can be assigned by the Board of Directors as per the existing law
  • The members of Nidhi should not exercise above 10% of the total voting rights of all shareholders
  • All the Nidhi Company must ensure that the number of membership should feature a minimum of 200 shareholders
  • The minors can also be the investors in Nidhi company only when the legal guardian is a member of the Nidhi
  • Each and every Nidhi Company should issue the equity shares of a minimum value of Rs10
  • Nidhi Companies should not be allowed to issue any new preference shares at any time.

Documents Required For Nidhi Company Registration

  • Copy of Director’s PAN Card
  • Passport size photograph of Directors
  • Scanned Copy of Aadhaar Card/ Voter identity card of directors
  • Copy of Rent agreement(If rented property)
  • Electricity/ Water bill of the Business Place
  • Copy of Property papers, if it is owned property
  • Landlord NOC

Choose Nidhi Company because:

  • No External Involvement in Management
  • Helpful for Lower and Middle Classes
  • Low Rates of Interest
  • Secured Investments
  • Minimum Documentation and Formalities