As a part of the Companies ACT 2013, a Nidhi Registered company is a non banking finance sector company. A Nidhi Company is put for the benefit of the members. The soul of the Nidhi Company function is to borrow and lend money between the members. A Nidhi registered company can also be called as a Mutual fund, Beneficial fund and Permanent fund company. Nidhi falls under the Non Bank Financial Company (NBFC) where the rules are governed by Reserve Bank of India (RBI), as a result of this RBI has the power to direct how the company accepts the deposit and as such. However, since Nidhis deal with their shareholder-members only, RBI has exempted such notified firms from the core provisions of the RBI Act and other directions applicable to NBFCs. It should contain Nidhi Limited in its name.
A nidhi company can be closed owing to many reasons that would range from internal to external factors. The term winding up is also used to define the same where the company would not be functional anymore. Incase the company is not shutdown properly then the company must be spending money on compliances and standard audit related filings on yearly basis to stay legal for no proper reason, hence to avoid this many not functioning model companies are advised to do a proper closure for the well being.
Under the Provisions of Company Act 2013 and nidhi company rules, it is recommended by the government that if a company is not considered to be functional and profitable and the team behind is not willing to continue it is recommended to close the company instead of letting it exist without proper legal documentation standards.
At Unilex Consultants we provide you a hassle free nidhi closure process which would be dealt by our professionals within a time frame of 30-40 working days and is subjective to governmental processing time. Our team takes care of the documentation and aids in provide you the realistic estimation of cost.
After filing the LLP closure application, there is no need to do further LLP compliances.
After allowing the application for LLP closing, there will not be any penalties. No LLP compliances and penalties levied.
If the LLP business is not running well, then a new business could be set up and time invested.
Well with highly qualified professionals in our team along with the technology gives edge over others, as a result highly rated professional services with full customer satisfaction is assured. We help to grow and manage your business letting you to concentrate on your business.
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