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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.
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Birendra Banka
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What else can I help you with?
Why was the dutch east India company founded?
It was founded to compete with other countries
What are the names of ndtv female news readers?
The names of the news readers on India's NDTV television network are Nidhi Razdan, Barkha Duff, Harishee Mehta and Nashma Saher.
How is a government formed in India?
The government of India is democratic, the citizens of India choose their president through the ballot.
Who controlled the government of India for almost 100 years?
the British East India Company
Who is the founder of British empire in India?
The East India Company. In 1612 after the Mughal Emperor granted the company rights to set up a factory in Suryapur (Surat). In 1640 the former Portuguese outpost of Bombay Island was gifted as dowry to Charles II for his marriage to Catherine of Braganza, and in 1668 the company leased the island from the crown. Many of these trading posts were formed in India, and the British presence grew and grew until the East India company was liquidated and the British Crown took control of India.
Nidhi Company Registration?
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How a nidhi company is formed in west Bengal?
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.
How do you registerd a nidhi company under section 620-A of companies act?
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.
Is it mandatory to have the word “Nidhi” in the company name?
Yes, as per the rules, it is mandatory for a Nidhi company to have the word “Nidhi” as part of its name.
Is Nidhi Company treted as Cheeting Company?
Any company are not a cheeting company including nidhi company. But any company can cheet with people.
What is a Nidhi company?
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.
Formed the east India company and west India company?
the Dutch
What are the key compliance requirements for a Nidhi Company in India?
A Nidhi Company is a type of non-banking financial company (NBFC) that primarily focuses on borrowing and lending money between its members. It operates under the provisions of the Companies Act, 2013, and the Nidhi Rules, 2014. To ensure smooth functioning, a Nidhi Company must adhere to certain compliance requirements. First, a Nidhi Company must be incorporated as a public limited company with a minimum of seven members and three directors. It is crucial to maintain a minimum net owned funds (NOF) of ₹10 lakh, as specified under the Nidhi Rules. Regular filings with the Registrar of Companies (RoC) are mandatory, such as annual financial statements (Form AOC-4) and annual return (Form MGT-7). A Nidhi Company must also submit a statement of its members (Form NDH-1) every six months, ensuring its compliance with the statutory requirements. Moreover, the company must conduct a general meeting once a year to present its accounts and operations. A key compliance requirement is the restriction on the number of members. A Nidhi Company cannot accept deposits from the public or conduct any activities other than those permitted under the Nidhi Rules. Failure to comply with these regulations can lead to penalties or the cancellation of its license.
You want give news in the India tv?
my name is nidhi nigam
What are the eligibility criteria for registering a Nidhi Company in India?
To register a Nidhi Company, the following criteria must be met: Minimum Shareholders and Directors: The company must have at least 7 shareholders and 3 directors. The directors and shareholders can be the same individuals. Capital Requirement: A Nidhi Company must have a minimum paid-up equity capital of ₹5 lakhs at the time of incorporation. No Preference Shares: The company is not permitted to issue preference shares. Purpose and Business Activity: The company must be incorporated with the primary objective of promoting savings and providing loans to its members. It cannot engage in activities like dealing with outside parties, chit funds, or insurance. Resident Members: All members of the Nidhi Company must be Indian residents.
How do you incorporate a nidhi company?
By filing form 2 and form 63.
What is difference nidhi company and chitti?
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 .........
