NIDHI COMPANIES


Section 406 deals with Nidhi companies.

“Nidhi” means a company which has been incorporated as a Nidhi with the object of cultivating the habit of thrift and savings amongst its members, receiving deposits from, and lending to, its members only, for their mutual benefit, and which complies with such rules as are prescribed by the Central Government for regulation of such class of companies.

The Central Government may by notification direct any of the provision of this Act shall not apply of shall apply with some exceptions, modifications and adaptation specified in the notification to any Nidhi company.

A copy of every notification proposed to be issued shall be laid in draft before each House of Parliament for a total period of thirty days which may be comprised in one session or in two or more successions. If both House agree in disapproving the issue of the notification or both agree in making any modification in the notification, the notification shall not be issued or shall be issued only in modified form as agreed upon by both the Houses.

[UPDATE: An exemption notification was issued on 5th June 2015]

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14 responses to “NIDHI COMPANIES

  1. Good content for all users.

    Like

  2. Arun Kumar Gupta

    Sr,
    I want to know the current status of the company, PGR India Nidhi Company Ltd.Varanasi, U.P.
    Whether it is registered under RBI act 1934 or not.
    As it is given cin-U65923UP2015PLC069373.
    Is it correct or fake under rbi act 1934.
    Sr,Pls let me know clearly

    Thank You.

    Like

  3. I want to know that Arihantnidhi ltd is athurised by Company nidhi act and he works of saveing rd fd mis it is athurised bi rbi nidhi act 2013.plz replay sir because i am working

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  4. can a dormant company resign a director before achieving the status of active.

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  5. Pingback: NIDHI COMPANIES | AishMGhrana

  6. sir can u give me all information about Nidhi and Chit fund company I want to creat a presentation on this topic but I nothing no about it plz plz plz help me what is this and what I am do . I also search on Google but not get helpful results on it can u help me .

    if u want to help me then give all information
    working of nidhi and chit fund company
    act of it
    shares
    members
    owners
    etc

    the smallest info can also help me

    Like

  7. NIDHI INVESTMENT GUARANTEE MATURITY

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  8. As per Companies Act 2013, how does a nidhi Company can allot shares to its customers to make them its members. In COS Act 1956, the provision was specifically excluded.Now what is remedy.

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  9. sudip kumar biswas

    nidhi company can declaired bonus, dividend & others ? pls tell me different between nidhi & chit fund company ?

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    • “Nidhi” means a company which has been incorporated as a Nidhi with the object of cultivating the habit of thrift and savings amongst its members, receiving deposits from, and lending to, its members only, for their mutual benefit, and which complies with such rules as are prescribed by the Central Government for regulation of such class of companies.

      No Nidhi (company) shall carry on the business of chit fund.

      “Chit” means a transaction under which a person enters into an agreement with a specified number of persons that every one of them shall subscribe a certain sum of money (or a certain quantity of grain instead) by way of periodical installments over a definite period and that each such subscriber shall, in his turn, as determined by lot or by auction or by tender or in such other manner as may be specified in the chit agreement, be entitled to the prize amount.

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  10. sudip kumar biswas

    if nidhi company collect money from market or individual person .

    Like

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