To register a Nidhi Company in Palakkad no license is needed from the Reserve bank of India. Forming a Nidhi Company is comparatively easy and less tedious. For Nidhi Company Registration in Palakkad, it should be first registered as a public company.
To incorporate a Nidhi Company in Palakkad at least seven members are required. Out of these seven three should be the designated directors.
Also, Nidhi company registration requires the Nidhi company to acquire at least 200 members within one year of commencement.
It is also necessary to ensure that the objective mentioned in the Memorandum of association of the Nidhi Company is to cultivate the habit of thrift and savings among the members.
To register a Nidhi Company in Palakkad it is necessary to have an equity share capital of a minimum of Rs.5 lakh. Also, the Net Owned Funds (NOF) must be increased to Rs10 Lakh within 1 year of registration.
IndiaFilings has been the best service provider for registrations and incorporation across India. You can easily get Nidhi Company registration in Palakkad within 15-20 days through IndiaFilings. Our consultants will help you in understanding your business requirement and also guide you throughout the process of registration.
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