Requirements for minimum number of members, net owned fund etc For Nidhi Company (1) Every Nidhi shall, within a period of one year from the commencement of these rules, ensure that it has- (a) not less than two hundred members; (b) Net Owned Funds of ten lakh rupees or more; (c) unencumbered term deposits of … Read More →
Nidhi Company Rules, 2014 – Incorporation and incidental matters 1) A Nidhi to be incorporated under the Act shall be a public company and shall have a minimum paid up equity share capital of five lakh rupees. (2) On and after the commencement of the Act, no Nidhi shall issue preference shares. (3) If preference … Read More →
Definitions of Common Terms used, as described by Nidhi Company Rules, 2014 – Companies Act 2013 In exercise of the powers conferred under sub-section (1) of section 406 read with sub-sections (1) and (2) of 469 of the Companies Act,2013, the Central Government hereby makes the following rules, namely:- 1. Short title and commencement – … Read More →
Savings in bank provide little scope for growth. Nidhi companies in India provide the easiest and most effective solutions for investment and savings with wide scope and potential for monetary growth. Concept of Nidhi company Nidhi Companies in India were created for cultivating the habit of small savings targeted at the lower and middle class. … Read More →