Nidhi Limited Company Registration

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Nidhi Limited Company Registration

Nidhi Companies are a special type of company in India under Section 406 of the Companies Act, 2013. They are primarily formed for mutual benefit, encouraging savings among members and facilitating easy loans.

Features of a Nidhi Company:

Members can deposit savings and avail loans at low interest rates.
Restricted to operations within a defined member group (no external loans or deposits).
Requires a minimum of 200 members within a year of incorporation.
Cannot engage in chit funds, insurance, or other financial services.

Requirements for Registration:

Minimum 7 members and 3 directors.
Paid-up capital of ₹5 lakhs.
Compliance with RBI and MCA guidelines for operations.

Benefits:

Promotes financial discipline among members.
Easier access to funds for personal or business purposes.
Exempt from stringent RBI regulations applicable to NBFCs.

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