Procedure for Registration
Following are the steps to register a Nidhi
- First, you need to get Director Identification Number(DIN) and Digital Signature Certificate(DSC) of all the directors.
- Next, get your Name Approval in the form of Public Limited Company with adding word Nidhi Limited in the last.
- Then file COI i.e. Conflict of Interest, of Public Limited Company Registration in INC-7, INC-22, & DIR-12 with authorized share capital of rupees 10 Lakh.
- File for Business Commencement.
- At last submit details of minimum 200 members to Nidhi board under MCA/ROC.
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Some provisions of Nidhi Company related to Branches
- If Nidhi Company has earned net profits after tax continuously during the preceding three financial years, only then it may open branches.
- A Nidhi is allowed to open up-to three branches within the district.
- If a Nidhi wants to commence more than three branches within or outside the district, it shall obtain the prior permission of the Regional Director.
- An intimation is to be given to the registrar about opening of every branch within 30 days of such opening.