In order to register as a nidhi company in India under section 620-A of companies act, you will have to apply at the Ministry of Corporate Affairs headquarters.
Nidhi company is a company registered under Companies Act and notified as a nidhi company by Central Government under Section 620-A of Companies Act. It is a non-banking finance company doing the business of lending and borrowing with its members or shareholders.
Nidhi Companies are Companies notified by the Central Government as such under Section 620A of the Companies Act, 1956.These Companies mainly engage in the business of collecting deposits in the form of Savings Deposit, Recurring Deposit etc.... and also lend to the same to the members of the Company. One of the important feature of a nidhi Company is that it deals only with members (share holders). Thus if you want to deposit any amount in a nidhi Company or want to avail a loan from a Nidhi Company, first you have to become a member by subscribing to shares of the Company.Moreoover, Nidhi Companies can open SB Accounts for its members. Moreover, there are certain restrictions like a Director can hold office for a contimuos period of 10 years only and an Auditor for a period of 5 years.Warm RegardsBirendra Banka9661805650
Any company are not a cheeting company including nidhi company. But any company can cheet with people.
A Nidhi company is formed in West Bengal easily. The company just needs to apply for a permit with the local authorities to get the company established and set up properly.
620A. Power to modify Act in its application to Nidhis, etc.(1) In this section, "Nidhi" or "Mutual Benefit Society" means a company which the Central Government may, by notification in the Official Gazette, declare to be a Nidhi or Mutual Benefit Society, as the case may be.(2) The Central Government may, by notification in the Official Gazette, direct that any of the provisions of this Act specified in the Notification-(a) shall not apply to any Nidhi or Mutual Benefit Society, or(b) shall apply to any Nidhi or Mutual Benefit Society with such exceptions, modifications and adaptations as may be specified in the notification.(3) A copy of every notification issued under sub-section (1) shall be laid as soon as may be after it is issued, before each House of Parliament.]i or Mutual Benefit Society, as the case may be.
By filing form 2 and form 63.
I know Nidhi company ,its under ROC, recognize by RBI with special notification .......... normally ROC of any state give permission to work on same ........... I don't know that what is chitti , If i am not wrong ,you are asking for Chit funds company..................... then reply me .........
Nidhi Rao
Nidhi Buley was born in 1986.
nidhi means money
Nidhi is a name. It means " treasure" in Hindi. It is NOT a person.
Nidhi Razdan was born in 1978.