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Nidhi Company is a business framework that falls under Section 20A of the Companies Act, 1956 and is governed by the Ministry of Corporate Affairs (MCA), and certain Nidhi company rules to be followed in India.
It is incorporated to develop a habit of saving among its members only for their mutual benefit. While the major inception of funding for Nidhi Company is the contribution from the members.
In this article, we discuss some of the benefits to keep in mind before starting a Nidhi Company. Nidhi Companies can take/ lend funds only from/ its members. Having said that as Nidhi Companies only take/lend funds only from/to its members, RBI has exempted Nidhi Companies from the core provisions or regulations applicable on NBFC.
Nidhi Company could be easily formulated because of the less documentation and Limited Liability. If you too are wondering to set up a Nidhi Company, then the Online Legal India™ expert team can take care through the documentation process. We have a highly qualified CA/CS and 10+ years of experienced lawyers who would assist you to Register your Nidhi Company We have budgeted services for those who are willing to venture into a company, business or any other kind of organization.
To deliver your digital assistance we have the best minds in the industry for your business incorporation, our concierge work round the clock to give you a hassle-free Nidhi Company Registration.
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