Wikiprocedure

Uttarakhand - Apply for Compliance of Nidhi Company

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ProcedureEdit

Apply In-Person:

  1. To Apply for Compliance of Nidhi Company, the applicant has to approach the Registrar of companies in their respective state link
  2. The officer in charge will assist regarding the type of application that they have to apply.
  3. An application form will be provided to the applicant by the concerned officer or the applicant has to download the application form from the following:
  4. The applicant has to fill in all the necessary details in the application form. (Incomplete applications are not accepted)
  5. Make sure that the applicant has attached all the necessary documents that are mentioned in the “Required Documents” section of this page.
  6. The applicant has to attach photocopies of the required documents along with the application form while submitting it.
  7. Submit all the documents with the completed form to the concerned officer.
  8. The applicant has to pay the prescribed fee as requested by the authority.
  9. After receiving the application, the concerned authority will check the submitted application and document set. If all are in place, the application will be accepted.
  10. All applications are processed within a reasonable time, having regard to the particular circumstances of each application, including the completeness of information and documents submitted to the authority by the applicant.
  11. The authority may seek additional information from an applicant if this is necessary to assess the application. The authority does not need to deal further with an application until the applicant has provided this additional information.
  12. Once everything is accepted, the applicant will be notified regarding the application.
  13. The entire process can be completed within 30 days or as per the timeline advised by the respective department authority.


Note: It is necessary to seek advice from the auditor and appoint the auditor to Apply for Compliance of Nidhi Company

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Required DocumentsEdit

  • Form NDH 1 link
  • Form NDH 2 link
  • Form NDH 3 link
  • Form NDH 5 link
  • Declaration of Nidhi by the Central Government
  • Preservation of Book of Accounts
  • Protection of the Statutory Register
  • Financial statements
  • Director’s report
  • Statutory Meetings
  • Filing of Annual Income tax returns
  • Memorandum of Association
  • Articles of Association



Office Locations & ContactsEdit

REGISTRAR OF COMPANIES – UTTARKHAND
Mezzanine Floor 78, Rajpur road, Office No. 259,
Shri Radha Palace Dehradun The Mall,
PIN-248001 Uttarakhand.
Contact - 0135-2745012-01352745013
Email - [email protected]
Contact Details link

EligibilityEdit

Here are few necessary compliances set out by the Nidhi Company Rules to be followed by every Nidhi Company within one year of its incorporation, such as:

  • The minimum number of members should be 200.
  • The Net owned funds (NOFs) should be Rs 20 lakhs,
  • The NOFs & the deposit should be in a ratio not greater than 1:20
  • Unencumbered term deposits must not be lower than 10 percent of the outstanding deposit as cited in Rule 14 of Nidhi Rules 2014 and Amended Rules of 2022.



FeesEdit

  • The applicant has to pay the prescribed fee as per the authority’s request.



ValidityEdit

Explain the time until which the certificate/document is valid.
e.g. Birth Certificate Valid Forever



Documents to UseEdit

  • Form NDH 1 link
  • Form NDH 2 link
  • Form NDH 3 link
  • Form NDH 5 Link
  • Use the following link to download other application form if necessary link



Sample DocumentsEdit

Please attach sample completed documents that would help other people.



Processing TimeEdit

  • The entire process can be completed within 30 days or as per the timeline advised by the respective department authority.



Related VideosEdit

Videos explaining the procedure or to fill the applications.
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&> from external websites.
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.



InstructionsEdit

  • Applicants must complete the application form before submitting it. Incomplete applications will not be accepted.
  • Applicants must provide genuine information while applying for this procedure.



Required InformationEdit

  • Corporate Identification Number (CIN) of Nidhi
  • Name of the Nidhi
  • Address of the registered office
  • E-mail id
  • Phone Number
  • Number of subscribers to the Memorandum
  • Number of members admitted since date of incorporation up to the end of the first financial year
  • Number of persons who have ceased to be members up to the end of the first financial year
  • Number of members as at the end of the first financial year



Need for the DocumentEdit

  • Nidhi Company is a type of Non-Banking Financial Company (NBFC) that has the principal object of borrowing and lending money between its members. This Mutual Benefit Company needs to file little annual compliance and it is famously known as Nidhi Company Compliances.



Information which might helpEdit

General Compliance of Nidhi Company
Within one year of incorporation, a Nidhi company must satisfy the following conditions:

  • The number of members should increase to at least 200 within one year of its incorporation.
  • The Net owned funds must be Rs. 20 lakhs (Modified via Nidhi (Amendment) Rules, 2022
  • The net owned funds and the deposits shall be in a ratio not exceeding 1: 20 that is Net Owned Funds: Deposits = 1:20.
  • Unencumbered term deposits should be not less than 10 % of the outstanding deposits as specified in Rule 14 of Nidhi Rules 2014.
  • The Nidhi Company needs to Maintain Books of Accounts, the statutory Registers.
  • The Nidhi Company needs to Convene Statutory Meetings.


Note: Net owned funds are the aggregate of paid-up capital and free reserves reduced by the accumulated and intangible assets as appearing in the last balance sheet



Other uses of the Document/CertificateEdit

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.



External LinksEdit

Companies Act 2013 link

OthersEdit

Penalties for non-compliance
When the Nidhi Company fails to comply with the required compliances as mentioned under the Companies Act or the Nidhi Company Rules, then it is made liable for:

  • Rs. 5000, with other officers in case of non-payment or default
  • And then for Rs. 50 per day till the default continues.



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