Provisions of Loan in Nidhi Company: (1) A Nidhi shall provide loans only to its members. (2) The loans given by a Nidhi company to a member shall be subject to the following limits, namely:- (a) two lakh rupees, where the total amount of deposits of such Nidhi from its members is less than two … 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 →
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 →