Nidhi Company Registration: Fostering Savings and Mutual Benefits

Nidhi Company Registration: Fostering Savings and Mutual Benefits
  1. Incorporation of a Limited Company: The first step in establishing a Nidhi Company is to incorporate a Limited Company under the Companies Act of 2013. This includes compiling and submitting the required documentation to the Registrar of Companies (ROC).
  2. Minimum Requirements: To begin the incorporation procedure, you must have at least three directors and seven shareholders. This guarantees the organization has a strong governance structure and a varied set of stakeholders.
  3. Memorandum Of Association (MOA): When creating the MOA, it is critical to incorporate the goal of instilling thrift and savings in members. This should explicitly clarify that the company will accept deposits and lend money only to its members for their mutual benefit.

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