Nidhi Company in India General restrictions Rule 6 provides general restrictions. According to this Rule no Nidhi shall- Carry on the business of Chit Fund, Hire Purchase Finance, Leasing Finance, Insurance or Acquisition of Securities issued by anybody corporate; Issue Preference Shares, Debentures or Any Other Debt Instrument by any name or in any form … Read More →
Deposits in Nidhi Company (1) The fixed deposits shall be accepted for a minimum period of six months and a maximum period of sixty months. (2) Recurring deposits shall be accepted for a minimum period of twelvemonths and a maximum period of sixty months. (3) In case of recurring deposits relating to mortgage loans, the … Read More →
Share capital and allotment: (1) Every Nidhi shall issue equity shares of the nominal value of not less than ten rupees each: Provided that this requirement shall not apply to a company referred toin sub-rules (a) and (b) of rule 2. (2) No service charge shall be levied for issue of shares. (3) Every Nidhi … Read More →
General restrictions or prohibitions – No Nidhi Shall – (a) carry on the business of chit fund, hire purchase finance, leasing finance, insurance or acquisition of securities issued by any body corporate; (b) issue preference shares, debentures or any other debt instrument by any name or in any form whatsoever; (c) open any current account … 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 →