GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS

LOK SABHA

UNSTARRED QUESTION NO. 4925

ANSWERED ON FRIDAY, THE 16th DECEMBER, 2016

AGRAHAYANA 25, 1938 (SAKA)

NIDHI COMPANIES QUESTION

  1. SHRI CHANDU LAL SAHU:
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Will the Minister of CORPORATE AFFAIRS

be pleased to state:

(a) the details of existing capital structure of Nidhi Companies in the country;

(b) whether the expert group recommendations have been incorporated in this regard and if so, the details thereof and if not, the reasons therefor; and

(c) whether the Government modified the provisions of allotment of share as per recommendations of the expert group and if so, the details thereof?

ANSWER

THE MINISTER OF STATE

(SHRI ARJUN RAM MEGHWAL)

IN THE MINISTRY OF CORPORATE AFFAIRS

(a) to (c):- Recommendations made by various Expert Groups or Committees on Nidhis related matters were duly examined/considered by the Government while prescribing Nidhi Rules, 2014. As per Nidhi Rules, 2014 issued under section 406 of the Companies Act, 2013,a Nidhi company shall be a public company and shall have a minimum paid up equity share capital of five lakh rupees. Nidhi companies shall not issue preference shares, debentures or any other debt instrument by any name or in any form whatsoever. A Nidhi company shall not admit a body corporate or trust as a member. Further, every Nidhi company shall, within a period of one year from the commencement of Nidhi Rules, 2014, ensure that it has not less than two hundred members and that it has Net Owned Funds of ten lakh rupees or such higher amount as the Central Government may specify.

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Category : Company Law (3434)
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Tags : Companies Act (1902) Companies Act 2013 (1674)

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