Nidhi Company Registration in Coimbatore
Get Nidhi Company Registration in Coimbatore with Earnlogic Consultants at very low cost. Nidhi company is also named as Mutual benefit company. The main objective of the company is to build money saving habits among the members of the organization. Nidhi companies are handled by its members and it works for its members. Nidhi company runs on the basis of payment, that the company borrows from its members. The company borrows some amount from the members and pays interest to them likewise, the company lends an amount to its members and charges some interest for the company's growth.
This process circulates among the members of the company. The main motive of Nidhi company is to build a money reserve by receiving deposits and lending that money to its members. The profit is based on the interest that the company is acquiring. Any member of the Nidhi company can make deposits and borrow loans whenever the need arises. A Nidhi to be incorporated under the Act shall be a public company and shall have a minimum paid up equity share capital of five lakhs rupees. On and after the commencement of the Act, no Nidhi shall issue preference shares.
Nidhi Company is a certain category of Non-Banking Finance Company. But the RBI does not have any direct regulations on Nidhi. But yet, it has the powers to issue directives for them related to their deposit acceptance activities. Every Nidhi shall allot to each deposit holder at least a minimum of ten equity shares or shares equivalent to one hundred rupees: Provided that a savings account holder and a recurring deposit account holder shall hold at least one equity share of rupees ten.
Advantages of Nidhi Company Registration in Coimbatore
- Limited Liabilities:
Limited liability means limited responsibilities. When we talk about the liabilities, it is congested to the amount of their total investment to the company. The personal properties or assets do not influence the debt of the company. The personal things are not used to combine with the company responsibilities and debts.
- Fund obtainability:
The members of the company contribute some funds and from those funds, they make loans at simple interest.
- Legal Existence:
The Mutual Benefit society enjoys a separate legal existence. The company and the members are vitally different. The company can own the assets and make the transactions by its own name. The debt also experiences in its own name. Thus in this way, it possesses separate legal existence.
Documents Required For Nidhi Company Registration in Coimbatore
- PAN card copy of the directors
- Passport photography of each director
- Aadhaar card copy/ voter Id proof
- Rental agreement copy
- Electricity and water bill or any utility bill
- Property papers copy
- NOC from the landlord of the registered office