CHECKLIST FOR A NIDHI COMPANY
- AT LEAST SEVEN MEMBERS ARE MANDATORY TO FORM A NIDHI COMPANY. OUT OF THESE, THREE SHOULD BE DESIGNATED AS THE DIRECTORS. HOWEVER, IT SHOULD ACQUIRE A MINIMUM OF 200 MEMBERS WITHIN ONE YEAR OF COMMENCEMENT.
- MOREOVER, THE COMPANY SHOULD HAVE A MINIMUM EQUITY SHARE CAPITAL OF RS 5 LAKHS, FOR REGISTERING AS A NIDHI COMPANY. THIS ENTIRE AMOUNT HAS TO BE PAID UP. HOWEVER, THE NET OWNED FUNDS (NOF) MUST BE INCREASED TO RS 10 LAKHS WITHIN A YEAR OF REGISTRATION.
- A.AT LEAST 10% OF ITS OUTSTANDING DEPOSITS SHOULD COMPRISE OF UN-ENCUMBERED TERM DEPOSITS.
- B.THE PRESCRIBED NOF TO DEPOSITS RATIO SHOULD BE 1:20.
- THIS INCLUDES EQUITY SHARE CAPITAL AND FREE RESERVES AND EXCLUDES ACCUMULATED LOSSES AS WELL AS INTANGIBLE ASSETS.
- AT LEAST 10% OF ITS OUTSTANDING DEPOSITS SHOULD COMPRISE OF UN-ENCUMBERED TERM DEPOSITS
- THE PRESCRIBED NOF TO DEPOSITS RATIO SHOULD BE 1:20. WHERE 10% OF THE TOTAL DEPOSITS ARE IN A FIXED DEPOSIT ACCOUNT OF A NATIONALIZED BANK.
DOCUMENTS REQUIRED FOR NIDHI COMPANY REGISTRATION
- TO BE SUBMITTED BY ALL DIRECTORS
- SELF-ATTESTED COPY OF PAN CARD
- SELF-ATTESTED COPY OF DRIVER’S LICENSE/ VOTER ID/ AADHAAR CARD/PASSPORT
- SELF-ATTESTED COPY OF BANK STATEMENT/ TELEPHONE BILL/MOBILE BILL/ ELECTRICITY BILL
- PASSPORT-SIZE PHOTOGRAPH
- SPECIMEN SIGNATURE CERTIFICATE
