Close your Nidhi Company
(Mutual Benefit) in India

What is mean by Nidhi Company Closure?

The Process of closing a Nidhi Limited Company is known as Strike off or company closure. Company closure is done under newly notified rules Companies (Removal of Names of Companies) Rules, 2016 which governed by section 248 of Companies Act, 2013. Closing a Nidhi Company require a special skills to adequately relieve you from all responsibility.

How to Close Nidhi Company in India?

A Company closure is filed under Form STK 2 (Earlier form was FTE) along with the government fees of Rs.5000/- and some necessary docs. However it is important to note the cases where closure can be filed. A Company closure can be filed after the following steps:

#Pay all Liabilities: The first step is to repay all the liabilities of the company and ask for written No Objection Certificate from them. Nidhi Company involves a lot of deposits and hence NOC has to be taken from every member of the Company.

#Need 75% Consent: This is a very new requirement which is to be complied for Nidhi Limited Company closure. To wind up the company, you need at least 75% consent of the shareholders/members of the company Further, one director is also needs to be notified to take care of all the responsibility for company closure.

#Prepare Application: Once consent is assigned, next step is to prepare application and file the same with the ROC.

Why to close a Nidhi Company?

If you are not running a company and not even complying with the law then you can file Nidhi Limited Company closure to avoid being in default. A dummy company, defunct company, non operative companies can file for Company closure to avoid late penalties etc.