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Our Nidhi Company Compliance Services
Nidhi Companies are regulated by the Ministry of Corporate Affairs (MCA) under the provisions of the Companies Act, 2013. These companies function primarily for the mutual benefit of their members by accepting deposits and providing loans within the member community.
Our team conducts a thorough audit of your company's operations to assess compliance with relevant laws, regulations, and guidelines. We identify areas of non-compliance and provide strategic recommendations to address them effectively.
We assist you in preparing and filing various documents with the Registrar of Companies (ROC), including annual returns, financial statements, and other statutory filings, ensuring timely submission and adherence to regulatory requirements.
Keeping accurate and up-to-date statutory records is essential for Nidhi companies. We help you maintain records such as minutes of meetings, registers of members, deposits, loans, and investments in compliance with the Companies Act, 2013.
Our expert advisors provide proactive guidance on regulatory changes, compliance obligations, and best practices relevant to Nidhi companies. We keep you informed and equipped to navigate evolving regulatory landscapes effectively.
In the event of compliance discrepancies or regulatory challenges, our experienced team offers prompt assistance in resolving issues efficiently, minimizing potential risks and liabilities for your Nidhi company.
Document Requirements for Nidhi Company Compliance
Our experienced team ensures smooth compliance processes, allowing you to focus on your business objectives. These documents are crucial for regulatory compliance and must be meticulously prepared and filed.
Memorandum of Association (MoA)
Outlines company objectives and structure.
Director Identification Number (DIN)
Unique ID for directors.
Proof of Registered Office Address
Valid documentation confirming office location.
Affidavit and Declaration by First Directors
Confirms eligibility and consent.
PAN and Aadhaar Card of Directors
Identity and address proof.
Articles of Association (AoA)
Details internal management rules.
Digital Signature Certificate (DSC)
Ensures document authenticity for electronic filing.
Declaration of Compliance
Affirms adherence to legal requirements.
Consent to Act as Director
Individual agreement to assume directorship.
Bank Account Opening Documents
Required for company banking operations.
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Pre-Incorporation Compliances for Nidhi Companies
By adhering to the prescribed registration process, entrepreneurs can establish Nidhi Companies that serve as pillars of financial stability and community development.
- Before initiating the incorporation process, it is crucial to ensure that your company meets the eligibility criteria specified under the Companies Act, 2013.
- Selecting an appropriate name for your Nidhi company is the first step towards incorporation.
- Establishing a registered office is a pre-requisite for Nidhi company incorporation.
- The Memorandum and Articles of Association define the constitution and operational framework of your Nidhi company.
- Nidhi companies are required to fulfill minimum capital requirements prescribed by law.
- Every director of a Nidhi company must obtain a unique DIN, and digital signatures are essential for electronic filing of documents with government authorities.
Post-Incorporation Compliance Guidelines for Nidhi Companies
Once your Nidhi company is incorporated, staying compliant with regulatory obligations is essential.
- Before initiating the incorporation process, it is crucial to ensure that your company meets the eligibility criteria specified under the Companies Act, 2013.
File various forms and documents with the Registrar of Companies (ROC) within prescribed timelines, including:
- Annual Return (Form MGT-7)
- Financial Statements (Form AOC-4)
- Director's Report (Form DIR-12)
- Changes in Directorship or Shareholding (Form DIR-3 and Form SH-7)
- Any other relevant forms as per the Companies Act, 2013.
Ensure accurate maintenance of statutory registers such as:
- Register of Members
- Register of Deposits
- Register of Loans and Investments
- Minutes of Meetings (Board Meetings and General Meetings).
Adhere to the specific regulations outlined in the Nidhi Rules, 2014, including:
- Minimum Net Owned Funds (NOF) maintenance
- Restrictions on lending activities
- Rules regarding acceptance of deposits from members.
- Hold an AGM within six months from the end of the financial year and ensure compliance with meeting procedures and resolutions.
- File income tax returns (ITR) and comply with tax-related obligations, including TDS/TCS deductions, advance tax payments, and GST filings if applicable.
- Conduct periodic internal audits to ensure adherence to internal control policies and identify any compliance gaps or operational inefficiencies.
- Hold regular board meetings as per statutory requirements, discussing financial performance, compliance updates, and strategic decisions.
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