Guidelines for filing of form NDH-4 (Application for Declaration/ Updation of status of Nidhis) Ministry of corporate affairs came up with some amendments in existing Nidhi Rules, 2014 through a Notification dated 01st july 2019. These rules called as Nidhi (Amendment) Rules, 2019 and came into force with effect from 15 August, 2019. With this […]
As we know Nidhi Companies are created for cultivating the habit of saving amongst the members and accept/lend funds only from/to its members, there are separate Rules being imposed on Nidhi Companies to ensure the safety of stakeholders interests and to ensure good governance in Nidhi Business.
Micro finance is a source of financial services for entrepreneurs and small businesses, it is a type of Non-Banking Financial Company (NBFC) which is in a business of micro credit finance to individuals and small business.
Microfinance is a source of financial services for entrepreneurs and small businesses, it is a type of Non-Banking Financial Company (NBFC) which is in a business of micro credit finance to individuals and small business. It is also known as Micro Finance Institution (MFI).
Nidhi Companies are not allowed to do micro finance business or to provide unsecured loans to its members.Nidhi Companies are allowed to lend/accept funds to/from only to its members, Nidhi can only lend a secured loan to its members
1. The name must contain Nidhi Limited 2. Nidhi company that has to be incorporated under this Act shall be a Public Company 3. It must have a minimum paid up equity share capital of Rs.5,00,000/-;
Charge is The right of Bank/Financial Institutions who lend funds to a company to receive money from the company’s assets if the debt is not paid on time. As per section 2(16) of the Companies Act, 2013 define charges as to mean an interest or lien created on the property or assets of a company or any of its undertakings or both as security and includes as mortgage.
