A Comprehensive Guide to Registering a Nidhi Company: Step-by-Step Process
Introduction Setting up a Nidhi Company can be a lucrative venture, especially for those looking to foster a culture of thrift and savings within a community. Nidhi Companies, regulated by the Ministry of Corporate Affairs in India, operate on the principle of mutual benefit, encouraging its members to save and lend to one another. In this comprehensive guide, we will walk you through the step-by-step process of registering a Nidhi Company, ensuring compliance with the legal framework. What is a Nidhi Company? A Nidhi Company Registration , as defined by the Companies Act, 2013, is a type of non-banking financial company (NBFC) that primarily deals with lending and borrowing within its members. The term "Nidhi" in Sanskrit means 'treasure,' and these companies essentially function as mutual benefit societies. Step 1: Preliminary Requirements Before diving into the registration process, there are certain prerequisites that need attention: a. Minimum Requirements: Mem...