Introduction: Setting up a Nidhi company involves a series of steps, from selecting a name to obtaining the Certificate of Incorporation. Alongside, compliance requirements must be met diligently to ensure smooth operations. Explore the process and necessary documents for establishing a Nidhi company.
Step 1: Selection of Name
Step 2: Application for Name Reservation.
Step 3: Filing of Documents Within 20 Days of Name Approval
Step 4: Obtaining COI (Certificate of Incorporation)
DOCUMENTS REQUIRED:
For Director (Minimum 3)
- Two photos of each proposed director
- PAN card of each proposed director
- Aadhar copy of each proposed director
- Voter ID/license of each proposed partner
- Saving bank passbook of each proposed partner
- Digital signature (DSC)
For Subscriber (Minimum 7)
- Two photos of each proposed subscriber
- PAN card of each proposed subscriber
- Aadhar copy of each proposed subscriber
- Voter ID/license of each proposed subscriber
- Saving bank passbook of each proposed subscriber
- Digital signature (DSC)
Special Note : Declaration by all the Directors and Subscriber duly signed also required
Compliances for Nidhi Company
COMPLIANCES FOR NIDHI COMPANY
|
Form NDH 1 (Return of Statutory Compliance) This form contains all the details regarding members, loans, deposits, reserves etc. for full financial year. |
Within 90 Days from the closure of Financial Year along with fees. |
| Form NDH-2(Application for Extension of time)
E-Form RD-1 Applications made to Regional Director. |
Within 30 days from the closure of the financial year if members are not 200 |
| Form NDH-3 (Half Yearly Return)
NB- Contains the details of Number of Members admitted during the half year, number of members ceased to be members and total number of members as on the date, Loan granted by Nidhi company along against the particular security and Deposits accepted by the Nidhi company form its members. E-Form GNL-2 Form for submission of documents with the Registrar. |
Within 30 days from the conclusion of each half year along with fees. Duly certified by PCA/PCS/CMA |
| Form NDH-4 (Form for filing application for declaration as Nidhi Company and for updation of status by Nidhis.)-NB- Introduced by Nidhi (Amendment) Rule 2019 w.e.f 15th Aug 2019. | Incorporated after 1st July 2019- Within 60 days after the expiry of 1 year from the date of its incorporation with fees Incorporated before 1st July 2019 Within a period of 1 year from its date of incorporation OR within 15th Feb 2020 with fees. |
| Form AOC-4 (Return for financial statements | Within 30 days of Annual General Meeting; |
| Form MGT-7 (Annual Return) | Within 60 days of Annual General Meeting. |
| Income Tax Return | 30th September of the following year |
| Balance Sheet | 30th September of the following year |
| DIR 3 KYC (Director KYC) | 30th September of the following year |
Conclusion: Establishing a Nidhi company requires meticulous attention to detail and adherence to compliance obligations. From filing documents to annual returns, staying compliant is crucial for the seamless functioning of the company. Understanding the process and fulfilling requirements ensures a solid foundation for the Nidhi company’s operations.
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