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National Initiative for Developing and Harnessing Innovations - NIDHI

A  Nidhi Company is a company that primarily deals with managing deposits from and providing loans to its members, who are also shareholders. The main purpose of a Nidhi Company is to promote thrift and savings among its members while offering financial assistance through lending. Nidhi Companies in India have specific exemptions and relaxed regulations regarding their annual compliance requirements and tax assessments, making them a unique financial institution designed to benefit their members mutually.

DOCUMENTATION -

To register a Nidhi Company in India, you need to provide the following essential documents:

• • Directors Identification Number (DIN)
  • PAN Number (Permanent Account Number)
  • Residential proof and address proof
  • Photographs of the proposed directors and members
  • Identification documents like Aadhar card
  • Proof of the registered business place, such as a rent agreement or lease
  • Ownership proof of the business place
  • NOC (No Objection Certificate) if required
  • Memorandum of Association (MOA)
  • Articles of Association (AOA)