COMPANY LAW: FAQs – Nidhi Company and its Operations What is Nidhi Company? A Nidhi Company is a Company which carries on the business of accepting deposits and lending the same on demand. Nidhi Company is similar to NBFC but the only basic difference between the two is that Nidhi Companies accept deposits only from its members. … Read More →
COMPANY LAW FAQs on Filing of half-yearly return in form MSME-1 Half-yearly return with the registrar in respect of outstanding payments to Micro or Small Enterprise Q.1 Form for filing the return in respect of outstanding payments to Micro or Small Enterprise? Ans: MSME Form I Q.2 What is the frequency of Reporting? Ans: Half … Read More →
COMPANY LAW FAQs on Filing CAR Form With MCA FAQs on filing Form CAR (Company Affirmation of Readiness towards COVID-19) As all of you are aware that Ministry of Corporate Affairs (MCA) issued advisory on preventive measures to contain spread of COVID-19 to all Chairman, Managing Director and Chief Executive Officer. With respect of it, … Read More →
How does the Society utilize the funds/deposits collected by it? The Society uses the funds in lending to the members and investments as per the Co-operatives society Act/Rules/By-Laws. Society’s lending is in the shape of small loans for business or personal use. Are the Deposits with the Society safe & secured? Government of India has … Read More →