Nidhi company registration
A members only savings and lending company, with strict conditions to meet in the first 120 days.
What the fee covers
- 3 digital signature certificates and 3 DINs
- Name reservation and SPICe+ incorporation
- MOA and AOA drafted for Nidhi objects
- Post incorporation compliance plan
- NDH-4 declaration filing
Professional fee
19,999
professional fee, government fees and stamp duty at actuals
- Timeline
- 20 to 30 working days
- Filed with
- Ministry of Corporate Affairs
Members only, by design
A Nidhi exists to encourage saving among a defined group of members and to lend that money back to them. It cannot take deposits from the public and it cannot lend outside the membership, which is what keeps it outside the heavier NBFC regime.
The conditions after incorporation are what decide whether it works: two hundred members and twenty lakh rupees of Net Owned Funds within a hundred and twenty days. A Nidhi that cannot reach those numbers should not be incorporated in the first place.
Best suited to
- Community savings and lending groups
- Local mutual benefit societies formalising themselves
- Groups that want deposit taking limited to their own members
- Founders who can bring 200 members inside four months
Documents you need
- PAN and Aadhaar of the seven subscribers and three directors
- Passport size photographs
- Address proof for each, not older than two months
- Electricity bill and no objection letter for the registered office
- Proof of the equity share capital being brought in
- A plan for reaching the member and fund thresholds
Scanned copies are enough to begin. We check every document against the department's current format before filing, because a rejected form costs more time than a resubmitted scan.
How the filing runs
Get free consultationFeasibility on the thresholds
The post incorporation conditions decide whether a Nidhi is viable for you, so we work through them before anything is filed.
Name approval and incorporation
The name must carry Nidhi Limited, and incorporation runs through SPICe+ as a public company.
Post incorporation compliance
Membership, Net Owned Funds and the deposit ratio have to be built in the first 120 days, then declared to the MCA.
NDH-4 declaration
The declaration confirming Nidhi status is filed within the window, which is where most self filed Nidhis fall over.
What it costs
19,999
professional fee, government fees and stamp duty at actuals
Typical timeline: 20 to 30 working days
Get free consultationTen percent below any comparable quote
Send us a written quote from another online filing platform for the same scope of work. We do the same filing for ten percent less, and the difference is shown in your quote before you pay anything.
- Applies to professional fees on like for like scope and turnaround
- Government fees and stamp duty are statutory and are charged at actuals by everyone
- The quote you send has to be current and in writing
Nidhi company questions
What are the capital and member requirements?
A Nidhi is incorporated as a public company with at least seven members, three directors and 10 lakh rupees of equity share capital. Within 120 days of incorporation it must have at least 200 members and Net Owned Funds of at least 20 lakh rupees.
Who can a Nidhi lend to?
Its own members, and nobody else. Accepting deposits from or lending to anyone other than a member is outside what a Nidhi is permitted to do.
What is a Nidhi not allowed to do?
It cannot carry on chit fund, hire purchase, leasing or insurance business, cannot issue preference shares or debentures, and cannot open current accounts for its members or advertise for deposits.
What happens if the 120 day conditions are not met?
The company has to apply for an extension in NDH-2, and until the position is regularised it cannot accept further deposits. Continuing to operate as a Nidhi without meeting the conditions carries penalties for the company and its officers.
Talk to a CA about nidhi company
Send your details and a chartered accountant calls you back with the document checklist, the timeline and the exact cost for nidhi company.
Reach us directly
22-1-3 Rajapangal Road, 7th Line, Ongole, Andhra Pradesh 523001. The office is open 10am to 7pm, Monday to Saturday, and WhatsApp and phone are answered around the clock.