MUTUAL BENEFIT OR NIDHI COMPANY
MUTUAL BENEFIT SOCEITY • An association that offers benefits to its members. • Under the benefit plan, no regular premiums are paid. • Instead, assessments are made with each loss as it occurs.
RULES TO DIRECTORS • Director of the Nidhi Company shall be member of the company • Director shall hold office up to 10 year
RULES TO DIRECTORS • Director shall be eligible for reappointment only after expiring of 2 year from the date of cessation of directorship. • If the tenure period is extended by central govt then shall be retired after expiry of such extended period.
RULES TO DIRECTORS • The person appointed as director shall not be disqualified from being appointed as director and comply with the provision of section 152(4) of The Companies Act 2013.
RULES TO DIRECTORS Every Nidhi Company shall file their Half Yearly return In the prescribed form NDH-3 along with fee within 30days form the conclusion of each half year and return shall duly certified by CS in Practice or CA in Practice
Statutory Compliances Every company incorporated as Nidhi Company shall file their return of Statutory Compliances in NDH-1 within the 90 days from the end of the financial year
PENALTY In case of any default or non-compliance by Nidhi company the every officer of the Nidhi Company who is in Default shall liable for punishment with fine of Rs. 5,000 for first contravention and in case of continuous of default then penalty shall be Rs. 500 for every day of default.
WHY NIDHI CO 1.Separate Legal Entity 2.Better Credibility 3.Limited RBI Regulations
WHY NIDHI CO 4. Help in channelizing small savings 5. Lower rate of credit 6. No outsider intervention
AFTER REGISTRATION After Successful Registration of Nidhi Company you will get: 1.Digital Signature for Three directors 2.DIN for 3 Directors
AFTER REGISTRATION 3. Name approval of the company 4. Drafting of the MOA & AOA of the company 5. Certificate of Incorporation
AFTER REGISTRATION 6. Customized Company Incorporation Kit 7. Company PAN & TAN Number 8. Bank Account Opening Document Support
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