Start Nidhi Company Registration with Shoplegal at a reasonable price. Nidhi Companies are designed to promote thriftiness and savings among their members. Their prime goal is to foster a culture of saving. The registration of Nidhi Companies in Trivandrum is governed by the Companies Act of 2013. Classified as an NBFC, Nidhi Companies are regulated by RBI, but some provisions are exempted due to their limited shareholder dealings. They are primarily engaged in deposit-taking and lending activities.

The Indian Companies Act of 2013, Section 406, and the 2014 Company Rules outline the incorporation guidelines. Though utilization is open, a minimum of 200 members is required within 12 months of registration. Nidhi Companies with online Nidhi company registration in Trivandrum can engage in activities such as leasing finance, chit funds, insurance, and hire purchase finance. However, they solely lend against securities and are obligated to file annual accounts, audits, and tax returns. Additionally, their unencumbered deposits must exceed 10% of the outstanding deposits.