Following are the requirements of Nidhi company:
- It shall be incorporated as a Public Limited Company.
- There should be minimum 7 shareholders, 3 directors, and Rs. 5,00,000 Capital (Equity).
- The objective should remain the same i.e. lending-borrowing among the members.
- It should have last word “Nidhi Limited” as part of its name.
- It should have no less than two hundred members.
- Net Owned Funds should be more than Rs. 10 Lakhs or more.
- Unencumbered term deposits of not less than ten percent of the outstanding deposits.
- The ratio of Net Owned Funds to deposits of not more than 1:20.
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