| Nidhi Company Registration is recognised under section 406 of the Companies Act 2013. A Nidhi Company refers to a venture in the non-banking Finance sector. The primary business function of a Nidhi company is to borrow and lend funds to the members of the company. Based on the operation of the Nidhi company, it is also known as a mutual benefit fund company, mutual benefit or benefit fund, or permanent fund company. Nidhi Company is governed in India by the MCA (Ministry of Corporate Affairs), and it has the total governing authority over any regulations related to the deposit and acceptance of the Nidhi Company.
Nidhi Company is based on the objective of thrift and savings amongst its members. Concerning the popularity of Nidhi Company, Nidhi Company Registration is relatively more popular in South India than in North India. In this write-up, we will study the requirements, characteristics, Advantages, documents required, and the incorporation process of a Nidhi Company. |
