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Nidhi Company is an organization enrolled under the Companies Act, 2013, which has a sole goal of developing the propensity for thrift and investment funds among its individuals. Nidhi organizations are permitted to take store from its individuals and loan to its individuals as it were. Subsequently, the assets contributed for a Nidhi organization are just from its individuals (investors) and utilized just by the investors of the Nidhi Company.
Nidhi organization is a class of NBFCs and RBI is engaged to issue headings to them in issues identifying with their store acknowledgment exercises. In any case, in acknowledgment of the way that these Nidhis manage their investor individuals just, RBI has exempted the advised Nidhis from the center arrangements of the RBI Act and different headings pertinent to NBFCs. In this manner, Nidhi Company is a perfect element to take store from and loan to a particular gathering of individuals.
A Nidhi company is a legal entity and a juristic person established under the Act. Therefore, a Nidhi company has wide legal capacity and can own property and also incur debts. The members (Directors) of a Nidhi company have no liability to the creditors of a Nidhi company.
A Nidhi company has ‘perpetual succession’, that is continued or uninterrupted existence until it is legally dissolved. A Nidhi company, being a separate legal person, is unaffected by the death or other departure of any member but continues to be in existence irrespective of the changes in membership.
A Nidhi company enjoys better credibility when compared to Mutual Benefit Organizations. Nidhi companies are registered and monitored by the Central Government. Mutual Benefits Organization are on the other hand governed and monitored by State Governments.
Bizbaba.in can register a Nidhi Company in 20 to 30 days, subject to ROC processing time.
Digital Signature Certificate(DSC) and Director Identification Number(DIN) is required for the proposed Directors of the Nidhi Company. DIN and DSC can be obtained for the proposed Directors within 5 to 7 days.
Once the name approval is obtained, registration documents can be submitted to the MCA along with an application for registration. MCA will usually approve the application for incorporation in 5 to 7 days, subject to their processing time.