Documents required for company incorporation
The name of the company should end with the words “Nidhi Limited”. After incorporation as a Nidhi, according to Rule 5 of the Nidhi Rules, 2014, every Nidhi shall within a period of one year from the date of its incorporation, ensure that it has –
- Not less than two hundred members;
- Net Owned Funds of ten lakh rupees or more;
- Unencumbered term deposits of not less than ten per cent of the outstanding deposits as specified in rule 14; and
- Ratio of Net Owned Funds to deposits of not more than 1:20.