What are the compliances for Nidhi Company?
Filing Compliance With ROC As Per Nidhi Rules 2014
Form | Due Date | Contents |
---|---|---|
AOC – 4 | Within 30 days from the date of the Company’s Annual General Meeting | Filing of Financial Statements |
MGT -7 | Within 60 days of the Annual General Meeting | Annual return along with a list of company members |
Who can form a Nidhi Company?
Who can get Nidhi Company Registration? The Nidhi company must be registered as a Public Limited Company, under the Companies Act, 2013. This essentially means that there are at least 3 Directors and 7 Shareholders.
Is RBI approval required for Nidhi Company?
No, Nidhi Company does not require any RBI approval for its registration in India. Nidhi Company is one of the categories of NBFC which has been specifically exempted by the RBI from its core provisions including registration requirement etc.
How many directors are required?
Section 149(1) of the Companies Act, 2013 requires that every company shall have a minimum number of 3 directors in the case of a public company, two directors in the case of a private company, and one director in the case of a One Person Company. A company can appoint maximum 15 fifteen directors.
Can director take loan from Nidhi Company?
Yes, Nidhi Company can give a loan to its directors, or his relative in their capacity as members and such transaction is disclosed in the annual accounts by a note.
Can a Nidhi Company take loan from bank?
Nidhi Company is bound to accept deposits from the registered members and provide loans to its members only. There are financial institutions in the form non-banking have been formed like Nidhi Company.
Is Nidhi Company public or private?
Nidhi Company isn’t required to receive the license from Reserve Bank of India (RBI), hence it is easy to form. It is registered as a public company and should have “Nidhi Limited” as the last words of its name.
Which company can have 15 directors?
One person company needs to have at least one director. A private company needs to have at least two directors, and a public company must have at least three directors. A company can have a maximum of 15 directors.