NIDHI COMPANY REGISTRATION
The Nidhi companies in India are established among their members to cultivate the habit of thrift and saving. Nidhi companies may borrow and lend to members of their organizations. The funds contributed to a company in Nidhi are therefore exclusively from its members (shareholders). Nidhi companies are therefore mainly used for a group of persons to cultivate a savings habit. In southern India, Nidhi companies are very common. In comparison to NBFC, it is not mandatory for a Nidhi business to receive an RBI permit, and thus easy to integrate it. Initially have a public limited partnership which would have the last term of its name, "Nidhi Limited." Second, a separate application for the grant of Nidhi company status is submitted before the ROC within one year of its incorporation, when the number of shareholders is 200. The company can not announce that the company requests deposits from the general public to keep its credits to and from its members its activities