Compliances of Nidhi Company

Compliances of Nidhi Company in India

Introduction

A Nidhi Company is a type of Non-Banking Financial Company (NBFC) registered under Section 406 of the Companies Act, 2013, regulated by the Ministry of Corporate Affairs (MCA).
It is formed to cultivate the habit of thrift and savings among its members and to accept deposits and lend money only to its members.

While Nidhi Companies enjoy certain operational relaxations, they are strictly regulated and must comply with annual and event-based compliances to avoid penalties and maintain legal status.

We provide end-to-end compliance services to ensure your Nidhi Company stays fully compliant with MCA regulations.

Key Compliance Requirements

1. NDH-1 – Return of Statutory Compliance

• Filed within 90 days from the end of the first financial year.

• Contains details of members, deposits, loans, and reserves.

2. NDH-2 – Extension Application (If Criteria Not Met)

• Filed to seek MCA approval if minimum member or deposit requirements are not met.

3. NDH-3 – Half-Yearly Return

• Filed within 30 days from the end of each half-year.

• Contains information on members, deposits, loans, and compliance status.

4. NDH-4 – Application for Declaration as Nidhi Company

• Filed to get the status of a Nidhi Company from the Central Government.

5. Annual ROC Filings

• Form AOC-4 – Filing of financial statements.

• Form MGT-7 – Filing of annual return with MCA.

6. Board Meetings & Records Maintenance

• Conduct minimum two board meetings per year.

• Maintain statutory registers & minute books.

Important Provisions for Nidhi Companies

• Must have minimum 200 members within 1 year of incorporation.

• Net owned funds must be 10 lakh or more.

• Ratio of Net Owned Funds to deposits should not exceed 1:20.

• Cannot carry on business of chit fund, hire purchase, insurance, or leasing finance.

Process for Annual Compliance

Step 1 – Data Collection & Verification

• Gather company’s financial data, member list, and loan/deposit records.

Step 2 – Preparation of Returns

• Draft necessary compliance forms and reports.

Step 3 – Filing with MCA

• Submit NDH forms and annual returns within deadlines.

Step 4 – Acknowledgement & Record Keeping

• Keep MCA approval receipts and updated registers.

Documents Required

• Certificate of Incorporation.

• Memorandum & Articles of Association (MOA & AOA).

• List of members & deposit details.

• Audited financial statements.

• Meeting minutes & statutory registers.

Why Choose Us for Nidhi Company Compliance?

Specialized Expertise – In-depth knowledge of Nidhi Company rules.
Timely Filings – Avoid penalties & maintain good legal standing.
Complete Support – From document preparation to MCA filing.
Transparent Pricing – No hidden costs.

Get Started Today!

Stay compliant and protect your Nidhi Company’s legal status with our professional compliance services.

Call Now: +91-9773346539/38