Closing a Nidhi Company

Why should I register as a Private Limited Company?

The procedure to shut down a Nidhi Company completely takes about six months.

First, 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. In order to do this, it is important to note the cases where closure can be filed.

A Company closure can be filed after the following steps have been followed:

Clearing Liabilities: The first step is paying off all the liabilities of the company. Since a Nidhi company involves a lot of deposits, an noc has to be taken from every member of the company.

Obtaining 75% consent: This is a new requirement for Nidhi company closure. At least 75% consent is required from the shareholders/members of the company. Also, one director must be authorised to take care of all the closure formalities.

Preparing application: Once consent has been gathered, the next step is preparing the application and filing it with the RoC.

Once the application and all the other documents are submitted and approved, the RoC sends a notice.

Documents Required for Nidhi Company Closure

Mandatory Documents

– Indemnity Bond notarized by Directors (STK 3)

– The latest Statement of Accounts

– A statement of Accounts containing the assets & liabilities of the Company. This statement must be audited by a CA

– Affidavit in Form STK 4 by every Company

– Special Resolution or Consent of 75% Members

Optional Documents (If applicable)

– Bank Account Closure Certificates

– PAN Card of the Company

Requirements for Nidhi Company Wind up (Closure)

It requires a special resolution or consent of at least 75% of the shareholders/members. Further the company closure request should be filed after repaying all creditors, disposal of all assets and closing all bank accounts. Further, kindly note the following points:

– Take NOC form after clearing the dues/liabilities.

– If you are registered with any government department, then you must seek NOC to close the business operations etc.