Nidhi company

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 January 2015 Dear Experts,
Kindly suggest whether approval of RBI is required for incorporation of Nidhi company? if Yes at which stage?

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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12 January 2015 APPROVAL OF RBI IS NOT REQUIRED

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Querist : Anonymous

Querist : Anonymous (Querist)

12 January 2015 Sir but in point 15(a) of INC1 said that if we are using word "Nidhi" or "mutual Benifit" then in-principle approval is required?
which approval is that?
kindly help

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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13 January 2015 According to my view for change of name of nidhi company RBI approval is required.

you can approch RBI for further clarification. and ask that whetehr a declaration submitted by the applicant company that the requirements mandated by RBI have been complied with by the applicant is sufficient

else for safer side get Approval from RBI

Querist : Anonymous

Querist : Anonymous (Querist)

14 January 2015 Sir,
I asked in ROC Mumbai and Pune they suggest that before filing INC 1 RBI permission is required

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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14 January 2015 thanks for the update

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