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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It was founded to compete with other countries
The government of India is democratic, the citizens of India choose their president through the ballot.
The names of the news readers on India's NDTV television network are Nidhi Razdan, Barkha Duff, Harishee Mehta and Nashma Saher.
the British East India Company
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.
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.
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.
Any company are not a cheeting company including nidhi company. But any company can cheet with people.
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.
the Dutch
my name is nidhi nigam
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.
They formed joint stock companies.
nidhi means money