Nidhi Company

Lopamudra in India has a dedicated team of company secretarial, legal professionals

and Chartered Accountants who possess extensive experience in various corporate
laws and commercial / legal documentation. Our team is highly business oriented in
approach and has experience across sectors and the acumen to provide complete
solutions for all corporate secretarial matters.

Registration of Nidhi Company

Nidhi Companies in India are created for cultivating the habit of thrift and savings
amongst its members. Nidhi companies are allowed to borrow from its members and
lend to its members. Therefore, the funds contributed to a Nidhi company are only from
its members (shareholders). Hence, Nidhi companies are mainly used to cultivate a
habit of savings amongst a group of people.

Nidhi Company?
A Public Limited Company is defined under Section 2(71) of the Companies Act, 2013 as:

● a company which is not a private company

● a company with a minimum paid-up share capital of INR 5 lakhs.

Note : Under the Companies Act, 2013, a subsidiary company shall be deemed to be a
public company if it is not a subsidiary to a private company, even if it is a private company
as per its articles.

Documents Required for Nidhi Company

Quick checklist

Form-16
Salary Slips
Interest certificates from Post Offices & Banks
Form 16A/16B/16C
Form 26AS
Tax-Savings Investment Proofs
Deductions under Section 80D to 80U

Specific requirements

A Company must have a registered office in India. Documents like bank statement or
electricity bill should not be older than 2 months. Along with that utility bill, rent agreement or
sale deed and a No Objection Letter (NOC) from the landlord with his/her consent to use the
office as a registered office of a company must be submitted.