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Nidhi Company Registration

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Nidhi Company Registration

Nidhi means treasure. A Nidhi Company is an organisation formed by accepting deposits from its member to form the Nidhi. It imbibes the habit of saving amongst its member. While depositors can earn income, other members can easily obtain loans. Thus, a Nidhi Company is useful in mobilizing the funds for mutual benefit of its members. It acts like a Bank, but is privately run and doesn’t require RBI approvals. They are popularly known as Non-Banking Financial Companies (NBFCs).

PocketLawyer is India's leading platform for business registration services and we make the process of Sole Proprietorship Registration easy and hassle-free for you. In addition to Proprietorship Firm Registration, PocketLawyer can also help you with registration of Sole Proprietorship Firm, One Person Company (OPC), Partnership Firm, Limited Liability Partnership (LLP), Private Limited Company, Section 8 Company, Producer Company and more.

What is the legal premise for forming a Nidhi Company?

A Nidhi Company is simply a Public Limited Company with restrictions on its activities. It is incorporated under section 406 of Companies Act, 2013 in a manner similar to Public Limited Company. So the minimum requirements are three directors and seven members applies here. However, the Object of formation of Company is specified in Memorandum of Association as “Cultivating habit of thrift and savings amongst its members, receiving deposits from, and lending to, its members only, for their mutual benefit.”

Within one year of incorporation, the Nidhi Company is required to comply with following requirements:

  • At least 200 members
  • Net Funds of INR 10,00,000
  • Deposits accepted should not exceed 20 times the funds
  • At least 10% of the total deposits accepted must be free of any liability.

Why Nidhi Companies are popular?

  • No external involvement in Management
  • Easy transfer of Ownership
  • Helpful for Lower and Middle classes – Secured Investments and Lower rates of interest for Loans
  • No stamp duty and other various tax benefits
  • Minimum documentation & legal formalities, Relaxation in compliances

Documents for Nidhi Company Registration

  • Copy of Director’s PAN Card, Aadhar Card/ Voter ID Card, Passport Size Photograph
  • Copy of Rent Agreement, Electricity or Water Bill, Property Papers, etc. as applicable
  • Digital Signature Certificate (DSC) of all Directors

Procedure for Nidhi Company Registration

  1. You will provide the above documents & details to your chosen expert.
  2. The expert will review the details, ask you certain questions and certain additional documents (if required) which may be required while registering.
  3. The expert will apply for DSC and DIN, if required.
  4. The expert will then proceed for Name approval application with Ministry of Corporate Affairs (MCA). You will have to propose three different names for the Nidhi Company out of which one will be approved. The expert will guide you in choosing an appropriate Name and then file the requisite forms.
  5. Meanwhile, the Memorandum of Association (MOA) and Articles of Association (AOA) has to be drafted and once the Name approval is received, the MOA and AOA can be submitted to MCA along with Share Subscription Statement. The expert will also file the requisite Incorporation forms with MCA.
  6. The expert will track the status of your Registration Application and will inform you, once the Registration is accepted and completed. The MCA will issue Certificate of Incorporation once the registration is approved.

Filing Fees and Time required

The entire process of registration of Nidhi Company can be completed in 25-30 days. The average fees charged for filing incorporation & registration of Nidhi companies is INR 20,000. Your chosen expert will inform you forehand about the associated Government Fees in relation to the registration. You may negotiate a better Professional fee, if you choose to hire the services of same expert for other registrations like PAN, TAN, etc.

Why choose PocketLawyer for Producer Company Registration?

  • Experienced and qualified professionals with 12 years of average experience.
  • Access to highly qualified professionals anytime, anywhere in India.
  • Fixed price. No hidden fees or long-term commitment.
  • 100% satisfaction guaranteed. Our money back guarantee makes sure that you get complete satisfaction, every time you choose our services.

What is more?

  • Our dedicated support team is always there to help you with any query or issue that you may have.
  • Choosing PocketLawyer means the best service, at the best price

Most importantly, we deliver what we promise. On time, every time.


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