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NIDHI COMPANY REGISTRATION

Nidhi Company is the blessing in disguise for those people who are interested in beginning the loan/finance business in India as it ensures ease and affordability factor as well. Nidhi Company Registration is a procedure through which the incorporation of type of NBFC called Nidhi can be made possible. Another name of this NBFC is the Mutual Benefit Finance Company. Furthermore, this incorporation takes place under the provisions of Companies Act, 2013

NIDHI COMPANY REGISTRATION FORM
 

DOCUMENTS REQUIRED FOR NIDHI COMPANY REGISTRATION:-

• Directors And Members - Begin With KYC Part

• The Need For Digital Signature

• Consent On Name

• Articles Of Association And Memorandum Of Association(Final    Incorporation)

• PAN And TAN & Opening Of Your Bank Account

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Benefits of Establishing a Nidhi Company:

Many people in our country want to deal with financial services, but due to the scarcity of capital, they are unable to take further steps. The principal objective of forming a Nidhi Company is to nurture the belt-tightening habits amongst its members so that by prioritizing saving, they won't face any difficulty in meeting their financial requirements that keep on arising from time to time. Apart from this, many unexplored benefits of establishing a Nidhi Company exists.

Reasons, why people prefer Nidhi Companies, are listed down as:-

• Easy Formation Without Any Complexity Involved :-The registration process of Nidhi Company relishes freedom from all kinds of complexities. As less documentation process prevails from the beginning to end in Nidhi Company Registration, Initiating a Nidhi Company is an easy task. In addition to this, the registration process gets completed within one or two weeks.

• Limited Liability :-In accordance with the Companies Act, 2013, directors and shareholders are having limited liability. In the game of business, either there will be profit or the company have to incur losses. While performing the business activities, if the company suffers from any loss or even goes through any financial trauma, creditors, banks, and the government have no power to seize the personal assets of any of the shareholders or even the directors.

• High Certainty Value:-In a developing nation like India, From 8 years old child to 60 Years older adult is interested in saving their money. Here, the habit of saving is going in the same line with the central goal of Nidhi Company. Inculcating the habit of saving amongst its members is one of the primary purposes of Nidhi Companies. As it is a going concern establishment and is full of certainty, members would keep on sticking to the good habit of saving.

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