Nidhi Company Registration in Coimbatore

Nidhi Company registration in Coimbatore has been incorporated for the purpose of saving money in an effective manner. The financial Markets are very vast in India and the financial needs are also increasing day by day. The Nidhi Company sets a new trend in the financial Market. In Indian financial sector, Nidhi is a mutually profitable concern introduced by the central government. Nidhi business can borrow money from its members and lends to members only. A Nidhi company cannot carry over business of chit fund, leasing finance & hire purchase, acquisition of securities or insurance. This form of business is prominent in Coimbatore. Solubilis is a best online platform who has well experienced team to provide assistance during the process of registration. We serve all localities in coimbatore like Ukkadam, Pothanur, Chettipalayam, Kuniyamuthur, Ganapathy and Ramanathapuram.

A Nidhi company registration in Coimbatore is a type of firm that belongs to the non-banking finance category. This type of firm formed under Section 406 of the Companies Act, 2013 and it is controlled by Nidhi Rules 2014 under the Central Government of India. Nidhi Company urges its members to save their extra money and to use the money in a valuable way. It is compulsory that every Nidhi company registration in Coimbatore must include Nidhi Limited in their name and their core business shall lend money and accept deposit from its shareholders and members. RBI approval is not needed for establishing Nidhi Company.

Documents Required For Nidhi Company Registration

  • Pan Card Copy of Directors
  • Recent PassPort size Photo
  • Aadhar card
  • Electricity bill, latest bank statement
  • Registered Office Proof
  • No Objection Certificate -NOC (signed by the owner)
  • Digital Signature (DSC)
  • Director Identification Number (DIN) of directors
  • Memorandum of Association of the company (MoA)
  • Articles of Association of the company (AoA)

Benefits Of Nidhi Company Registration

  • Simple documentation- Simple and hassle-free documentation process. Nidhi Company registration in Coimbatore is done easily through online portal.
  • No Compliance to RBI- RBI approval is not necessary for the formation of Nidhi Company Less level of Risk- Risk of non- repayment of loans is less as compared to other finance business.
  • Interest Rate- In Nidhi Company, the interest rates charged or paid are minimal.
  • Limited credit- The funds raised are limited to the availability of the credit and it will also be limited as compared to the other finance companies.


A Nidhi Company is a Company which carries on the business of accepting deposits and lending the same on demand. Nidhi Company is similar to NBFC but the only basic difference between the two is that Nidhi Companies accept deposits only from its members.

Solubilis is the best service provider; we take 5-7 days to register the private limited company.

No, all the financial transactions have to be made only between the shareholders of the company.

Following provisions are applicable to Nidhi Companies.
1. As they are incorporated into the nature of Public Company so rules and regulations of Companies Act, 2013 are applicable.
2. RBI provisions related to Interest rate payable on deposit are applicable to Nidhi Companies. But the core provisions of RBI are not applicable to Nidhi Companies as RBI has exempted the Nidhi Companies from the same.
3. Nidhi Rules, 2014.

Once the Nidhi Company is incorporated it must fulfil the following requirements:
1. It must have at least 200 members/shareholders.
2. Minimum Net Owned Fund should be Rs. 10 Lakhs.
3. Unencumbered term deposit must be at least 10% of the term deposit.
4. The ratio of Net Owned Fund to term deposit should not be less than 1:20.

The Nidhi Company uses the funds in lending to shareholders as per Nidhi Rules. It lends such money in the form of small loan for business and finance.

A minor shall not be admitted as a member in a Nidhi company, But deposits may be accepted in the name of minor, if they are made by natural or legal guardian who is a member of the respective Nidhi.

Nidhi can provide loans to its members only after the members have given/ provided some securities like gold, silver jewellery or any type of financial securities against the loan.

Nidhi shall not issue preference shares.

The Nidhi Company uses the funds in lending to shareholders as per Nidhi Rules. It lends such money in the form of small loan for business and finance

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