We have recently discussed a lot about the incorporation, post incorporation and the requisite compliances of a Nidhi Company but in this article, we shall study about the exemptions available to Nidhi Companies from compliance of various sections of the Act and the impact of such exemptions.
In this article, we shall study about the provisions of declaration of divided applicable on the Nidhi Company as explicitly mentioned in the Nidhi Rules.
As per the provisions of Section 406(1) of the Companies Act, 2013, ‘Nidhi Company’ 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’. Therefore, we can say […]
As per the provisions of the section 406(1) of the Companies Act, 2013, ‘Nidhi Company’ 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’. After being incorporated […]
In accordance with the Section 406 of the Companies Act, 2013 and the rules made thereunder, a “Nidhi Company” means a company incorporated as a Nidhi along with the object of – -Cultivating the habit of thrift and savings amongst the members, and -Receiving deposits from and lending to the members for their mutual benefit, […]
POST-INCORPORATION COMPLIANCE OF A NIDHI COMPANY In accordance with the Section 406 of the Companies Act, 2013 and the rules made thereunder, a ‘Nidhi Company’ means a company incorporated as Nidhi with the object of – -Cultivating the habit of thrift and savings amongst the members, and -Receiving deposits from and lending to the members […]
In accordance with the section 406(1) of the Companies Act, 2013, ‘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’. Therefore, we can say that a […]
Section 149(1) of the Companies Act, 2013 requires that every Company shall have a minimum number of 3 directors in the case of a public company, 2 directors in the case of a private company, and 1 director in the case of a One Person Company. A Company can appoint maximum 15 fifteen directors however; it may appoint more than fifteen directors after passing a special resolution in general meeting.
The Registrar of Companies (ROC) in September, 2017, 2018 and now in 2019 took an outrageous step and struck off many Companies who had not done their filing for a period of two financial years or more believing that the Companies are not doing any business in accordance with Section 248 (2) of the Companies […]
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