Yahoo India Web Search

Sign In

Search results

    • Non-banking finance company

      • Nidhi Company is a company registered under Companies Act and notified as a Nidhi company by Central Government under Section 620A of Companies Act, 1956. It is a non-banking finance company doing the business of lending and borrowing with its members or shareholders.
      taxguru.in/company-law/nidhi-company-companies-act-2013.html

      Nidhi Company- Companies Act- 2013 - Tax Guru

  2. People also ask

  3. taxguru.in › company-law › nidhi-company-companiesNidhi Company- Companies Act- 2013 - Tax Guru

    Apr 10, 2020 · Nidhi Company is a company registered under Companies Act and notified as a Nidhi company by Central Government under Section 620A of Companies Act, 1956. It is a non-banking finance company doing the business of lending and borrowing with its members or shareholders.

  4. taxguru.in › chartered-accountant › nidhi-companyNidhi Company- Meaning, Key Features, advantages & Registration

    Aug 2, 2019 · Nidhi Company is an NBFC (Non-Banking Financial Company). Nidhi in simple terms means a company which is formed with the object of cultivating the habit of thrift and savings amongst the members and receiving deposits from and lending to the members for their mutual benefits.

  5. Videos

    View all

  6. en.wikipedia.org › wiki › Nidhi_CompanyNidhi company - Wikipedia

    A nidhi company is a type of company in the Indian non-banking finance sector, recognized under section 406 of the Companies Act, 2013. [1] Their core business is borrowing and lending money between their members. [2]

  7. cleartax.in › s › nidhi-company-registrationAll about Nidhi Registration - ClearTax

    • Activities Prohibited in A Nidhi Company
    • Number of Members
    • Share Capital and Owners’ Funds
    • Documents Required For Registration
    • Conditions to Be Fulfilled For Getting ‘Nidhi’ Status

    Nidhi Company can’t deal with chit funds, hire-purchase finance, leasing finance, insurance or securities business. It is strictly prohibited from accepting deposits from or lending funds to, any other person except members. Also, it can’t advertise itself to ask for any deposits.

    See full list on cleartax.in

    Minimum of seven members is required to start a Nidhi Company out of which three members must be the directors of the company.

    See full list on cleartax.in

    A minimum of 5 lakh rupees, is required as the equity share capital to start a Nidhi Company. Nidhi Company can’t issue preference shares.

    See full list on cleartax.in

    Proof of the registered place of business (Ownership documents/ rent or lease agreement)
    No Objection Certificate (signed by the owner/ landlord)
    Identity proofs
    Address proofs of the members

    See full list on cleartax.in

    Within one year of its registration 1. Nidhi Company should have minimum 200 members within one year from commencement 2. Also, the net owned funds should be 10 lakh rupees or more. Net owned funds = Equity share capital + free reserves (-) accumulated losses (-) intangible assets 3. Unencumbered term deposits must be 10% or higher of the outstandi...

    See full list on cleartax.in

  8. tax2win.in › guide › nidhi-company-registration-in-indiaNidhi Company Registration in India: Documents Required & Fees

    5 days ago · Nidhi Company is a type of NBFC (a non-banking finance company) registered under Section 406 of the Companies Act 2013. Its primary function is to accelerate lending and borrowing money between the prime members of the company.

  9. www.clearias.com › nidhi-companyNidhi Company - ClearIAS

    Jun 6, 2024 · Conclusion. What are Nidhi Companies? A Non-Banking Financial Company (NBFC) recognised under section 406 of the 2013 Companies Act is the Nidhi Company. It was established to lend and borrow money from its members. Nidhis are also categorised as Non-Banking Financial Companies because they mostly operate in the unorganised money market.

  10. taxguru.in › company-law › nidhi-company-detailedNidhi Company: A Detailed Analysis - Tax Guru

    Sep 18, 2020 · Nidhi Company is a form of NBFC, incorporated U/s. 406 of the Companies Act, 2013 and only public company U/r 4(1) can be declared as Nidhi Company. The Ministry of Corporate Affairs (MCA) is the body which governs Nidhi Company Rules and Regulations.