A financial company. It is a company classified as an NBFC (a Non-banking financing company) and registered under Section 406 of Companies Act, 2013. Facilitate lending money between the core members of the company. This way members (or shareholders) are encouraged to save money and invest them within the company. These deposits are then used by the company for its members (or shareholders), to provide loans or advances, and to acquire government-issued stocks/bonds/debentures/securities. Regulated by the Ministry of Corporate Affairs, while the RBI monitors all its financial dealings. LawDocs helps you to enter into the formal economy.
Financial benefits with financial services
Cheaper To Borrow: As a member, one can borrow money at a minimum rate, relative to the rate at which banks lend money. This can be a major advantage in times of need, as different individuals in the mutual benefit society are likely to need funds at different points in time.
Encourages Savings: It encourages all its members to save money and encourages a thrifty lifestyle. A Nidhi Company, after all, is a mutual benefit society wherein members can lend or borrow money and accept financial aid amongst them.
Fewer Complications: Borrowing and lending to known persons, where the procedure is fixed, is much less complicated than dealing with banks or in an informal setting. A Nidhi Company enables its members to unlock the potential of their money and gain from lower interest rates when they require money themselves.
A few simple steps for a great future.
Applying for DIN and DSC
MoA & AoA
Certificate of Incorporation (CIN)
PAN, TAN and Bank Account
Simply, your documents
To Be Submitted By All Directors
Self-attested copy of PAN Card
Self-attested copy of Driver’s License/ Voter ID/ Aadhaar Card/Passport
Self-attested copy of Bank Statement/ Telephone Bill/Mobile Bill/ Electricity Bill
Specimen Signature Certificate
For a legally strong finance company.
We assist you and discuss with you the project.
We guide to formulate best business plan.
We procure necessary registrations and licenses for you.
We provide advisory help you in a very professional manner.