1
Nidhi companies on 21st June 2009, 11:40 pm
krishnamani.av
can anyone say about nidhi companies ?
2 Re: Nidhi companies on 24th June 2009, 12:27 pm
warrieracs
Dear Krishnamai,
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 Regards
Rajesh
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 Regards
Rajesh
Message [Page 1 of 1]