Easily Start a Nidhi Company
Complete solution for starting a Nidhi Company, including incorporation of limited company, issue of shares and obtaining Nidhi status.
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Nidhi Company Registration
Nidhi Company could be a company registered under the Companies Act, 2013. Nidhi means a company that has been incorporated with the thing of developing the habit of thrift and reserve funds amongest its members and also receiving deposits and loaning to its members just for their mutual profit. These extremely localized single workplace establishments having no external involvement, provide loans to and accept deposit from members at pleasant rates, and with minimum documentation and formalities.
These mutual profit societies get to create a habit of making savings and economy among their various members, and work for giving advantages to each of the depositors and borrowers. People under the lower to middle financial statuses are to be benefited remarkably through the activities of these companies Nidhi company registration provides straightforward and convenient loans to members against a range of collateral, like gold and silver jewelries, stable properties, and fixed deposit receipts, NSCs and different Government securities and insurance policies.
ADVANTAGES OF NIDHI COMPANY REGISTRATION
Separate Legal Entity
A Nidhi company could be a legal entity and a legal person established under the Act. Therefore, a Nidhi company has wide legal capability and may own property and conjointly incur debts. The members (Directors) of a Nidhi company haven't any liability to the creditors of a Nidhi company.
A Nidhi company has 'perpetual succession', that's continued or uninterrupted existence till it's lawfully dissolved. A Nidhi company, being a separate legal person, is unaffected by the death or different departure of any member however continues to be alive regardless of the changes in membership.
A Nidhi company enjoys higher credibleness in comparison to Mutual profit Organizations. Nidhi companies are registered and monitored by the Central Government. Mutual advantages Organization are on the opposite hand ruled and monitored by State Governments.
The Board of Management of a Nidhi company will be simply modified by filing simple forms with the Registrar of Companies. The Board of Management of a Nidhi company controls the activities of the Nidhi Company.
A Nidhi company being a legal person, will acquire, own, get pleasure from and alienate property in its own name. No member will create any claim upon the property of the Nidhi Company as long because it could be a going concern.
Limited Liability means the liability of its members are limited to the extent of their share capital in the company and call money if any unpaid. In a Nidhi Company, the members are not held personally responsible for the liabilities of the Nidhi Company.