What is the process of registration of a Nidhi Company?
- 1 Views
For incorporation of Nidhi Company under the Companies Act, it has to fulfil the following conditions:
- It must be incorporated as a public company.
- It must have a minimum paid up equity share capital of five lakh rupees.
- It can have minimum 3 and maximum 15 directors.
- It must compulsorily have its object in its Memorandum of Association as the “object of cultivating the habit of thrift and savings amongst its member, receiving deposits from, and lending to, its members only, for their mutual benefit.”
- It is mandatory for the company to have the suffix “Nidhi Ltd.” as part of its name.
- It must have not less than 200 members at any point of time of the existence of the company after its incorporation under Rule 5 of Nidhi Rules, 2014.
- It must, have Net Owned Funds of ten lakh rupees or more and the ratio of the net owned funds to deposits should not be more than 1:20.
It is advisable to consult a good corporate lawyer in India to know how to start a Nidhi Company.
Have a Legal Issue?
Get connected to the Best Lawyers and Chartered Accountants Near You!
You might like reading these
Most Consulted Corporate Law Advocates
Choose from our most consulted lawyers across India and get instant legal advice.
Advocate Rajesh Singh
- Kala Ghoda, Mumbai
- 19+ Years Of Exprience
- User Rating N/A
Advocate Rajesh Singh practices at district Court Mumbai. He enrolled with the Bar Council of Maharashtra and Goa in 2004. His practise areas are criminal laws, family law, cyber law cases, arbitration matters, recovery related matters and drafting and vetting of various agreements and documents. He provides litigation support through our attorneys and associates registered to practice. They also help resolving disputes by way of mediation, arbitration and conciliation through institutional or ad hoc methods. He supports the Multi-National Clients having presence in multi-jurisdictions to know laws applicable to each of their groups companies through our opinions, policy writing, Dos and Don’ts etc. analysed by him or his associates. He provides full In-house legal and secretarial support services to various local and foreign MNCs. He has senior team with enriching experience as In-house as well as lawyers to facilitate our client better and most effectively. He has experience of 17+ years in the legal profession and providing services. He provides services in fair and transparent manner with result oriented approach. He is very supportive and friendly to his clients both professionally and ethically. He is consistent and precise in identifying strength and weakness of the matter.
Read MoreAdvocate Vishal Kumar Sehgal
- Macnair Road, Bareilly
- 5+ Years Of Exprience
- User Rating N/A
Advocate Vishal Kumar Sehgal is a Bareilly based lawyer and has been practising law since 2014. He has been providing legal and advisory services as an independent lawyer. Advocate Vishal Kumar Sehgal got enrolled with the Bar Council in the year 2014. He has acquired his legal education from M.J.P. Rohilkhand University and holds extensive experience in working in the most complex areas of Criminal Matters, Civil Matters, Matrimonial Cases, Consumer Protection, Arbitration, Corporate Laws, Intellectual Property and General Legal. He holds experience in efficiently handling varied cases and often makes appearances across Bareilly District Courts, District Consumer Forum Bareilly, State Consumer Disputes Redressal Commission Uttar Pradesh and also representing clients in Noida, Gurugram, Ambala, Rampur. He avidly believes in achieving the objectives of his client with compassion and accurate advocacy. Advocate Vishal Kumar Sehgal is known for providing timely and responsive legal services for his clients by providing them with the most expeditious legal course of action.
Read MoreAdvocate Madhuri Bakshi
- Sector 16, Faridabad
- 4+ Years Of Exprience
- User Rating N/A
Advocate Madhuri Bakshi is a Faridabad based lawyer and has been practising law since 2015. She has been providing legal and advisory services as an independent lawyer. Advocate Madhuri Bakshi got enrolled with the Bar Council in the year 2015. She holds extensive experience in working in the most complex areas of Corporate Law, Consumer Protection and Medical Negligence. She holds experience in efficiently handling varied cases and often makes appearances across District Court Faridabad, District Court Patiala House, District Court Saket, District Court Tis Hazari and Debts Recovery Tribunal(DRT) Delhi. She avidly believes in achieving the objectives of her client with compassion and accurate advocacy. Advocate Madhuri Bakshi is known for providing timely and responsive legal services for her clients by providing them with the most expeditious legal course of action.
Read MoreAdvocate Aditya Parolia
- Panchsheel Enclave, Delhi
- 8+ Years Of Exprience
- User Rating 4.3
Advocate Aditya is Master of Laws in Commercial and Financial Services Law from National University of Singapore (NUS). His academic qualifications also include courses from prestigious institutes like Hague Academy of International Law, International Court of Justice. He is a member of various international and national bar associations. Aditya is a partner in PSP Legal, Advocates and Solicitors, a top notch law firm based out of Delhi. He specialises in representing his clients through Dispute Resolution process, both litigation and arbitration. He helps corporate houses, financial/non-financial institutions, MSMEs, private equities and High Net worth Individuals through various disputes of Civil, Commercials and Criminal nature. Advocate Aditya assists his clients through his offices based out of New Delhi, Bangalore, Chandigarh, Pune, Gurgaon and pan India through associate offices. Advocate Aditya is also on the Panel of Advocates of various government organizations and is known for his pragmatic ability to get the desired results.
Read MoreAdvocate Ashish Mittal
- Basni, Jodhpur, Rajasthan, Jodhpur
- 2+ Years Of Exprience
- User Rating N/A
Advocate Ashish Mittal is a Jodhpur based lawyer and has been practising law since 2017. He has been providing legal and advisory services as an independent lawyer. Advocate Ashish Mittal got enrolled with the Bar Council in the year 2017. He has acquired his legal education from Jain Narain Vyas University and holds extensive experience in working in the most complex areas of Criminal Matters, Civil Matters, RERA, Property Real Estate Law, Corporate and General Legal. He holds experience in efficiently handling varied cases and often makes appearances in the Rajasthan High Court. He avidly believes in achieving the objectives of his client with compassion and accurate advocacy. Advocate Ashish Mittal is known for providing timely and responsive legal services for his clients by providing them with the most expeditious legal course of action.
Read MoreAdvocate Harish Katyal
- Sector-39, Noida
- 23+ Years Of Exprience
- User Rating N/A
Advocate Harish Katyal is a Noida based lawyer and has been practising law since 1996. He has been providing legal and advisory services as an independent lawyer. Advocate Harish Katyal got enrolled with the Bar Council in the year 1996. He has acquired his legal education at Delhi University and holds extensive experience in working in the most complex areas of Arbitration, Corporate Law, IPR, Legal Agreement Drafting, Property/Real Estate. He holds experience in efficiently handling varied cases and often makes appearances across District Consumer Forums Delhi, District Court Patiala House, District Court Saket, District Court Tis Hazari. He avidly believes in achieving the objectives of his client with compassion and accurate advocacy. Advocate Harish Katyal is known for providing timely and responsive legal services for his clients by providing them with the most expeditious legal course of action.
Read MoreTop Consulted Corporate Law Advocates
Choose from our most consulted lawyers across India and get instant legal advice.
Advocate Rajesh Singh
- Kala Ghoda, Mumbai
- 19+ Years Of Exprience
- User Rating N/A
Advocate Vishal Kumar Sehgal
- Macnair Road, Bareilly
- 5+ Years Of Exprience
- User Rating N/A
Advocate Madhuri Bakshi
- Sector 16, Faridabad
- 4+ Years Of Exprience
- User Rating N/A
Advocate Aditya Parolia
- Panchsheel Enclave, Delhi
- 8+ Years Of Exprience
- User Rating 4.3
Advocate Ashish Mittal
- Basni, Jodhpur, Rajasthan, Jodhpur
- 2+ Years Of Exprience
- User Rating N/A
Advocate Harish Katyal
- Sector-39, Noida
- 23+ Years Of Exprience
- User Rating N/A