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    • Accepts deposits from its members

      • A Nidhi company accepts deposits from its members, which can be in the form of fixed deposits, recurring deposits, or savings accounts. However, a Nidhi company is not permitted to open current accounts. The acceptance of deposits by a Nidhi company is subject to certain conditions.

      Nidhi Company: Lending, Deposits, Interest Rate, Rules ...

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  3. taxguru.in › company-law › nidhi-company-lendingNidhi Company: Lending, Deposits, Interest Rate, Rules ...

    Jun 7, 2023 · A Nidhi company accepts deposits from its members, which can be in the form of fixed deposits, recurring deposits, or savings accounts. However, a Nidhi company is not permitted to open current accounts.

  4. taxguru.in › company-law › analysis-deposits-nidhiAnalysis of Deposits by Nidhi Companies - Tax Guru

    Mar 25, 2016 · In this article we discuss how much a Nidhi Company can take deposits and from whom. These are the rules and limitations for taking deposits by Nidhi Companies :-1. The ratio of Net Owned Funds of the Nidhi Company to deposits should not be more than 1:20. 2. Nidhi Company should not accept deposits from or lend to any person, other than its ...

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  6. taxguru.in › company-law › acceptance-deposits-nidhiAcceptance of Deposits By Nidhi Companies - Tax Guru

    Jun 30, 2020 · TYPES OF DEPOSITS ALLOWED: 1. Fixed Deposits. 2. Recurring Deposits. 3. Savings Deposits MAXIMUM LIMIT: – No Nidhi Company shall accept deposits exceeding 20 times that of its net owned funds as per its last audited financial statements. LIMITS FOR ACCEPTING DEPOSITS AND OTHER IMPORTANT POINTS – 1. Fixed Deposit:-

  7. www.hubco.in › articles › acceptance-of-deposits-byAcceptance of Deposits by Nidhi Company – Rule 11 & 13 of ...

    Apr 20, 2016 · Analysis: Nidhi Company can accept fixed deposits like bank/NBFC and can offer a lucrative interest to attract the rational investor/member. However, unlike Bank and NBFC, Nidhi Company is not allowed to accept funds for more than 5 year (60 Months).

    • Paras Mehra

  8. cleartax.in › s › compliance-requirements-loansCompliance Requirements and Loans Under Nidhi Companies

    • Prerequisites For Forming A Nidhi Company
    • Post Incorporation Requirements of A Nidhi Company
    • Registration Process of A Nidhi Company
    • Restrictions on Nidhi Companies
    • Filing Compliance with Roc as Per Nidhi Rules 2014
    • Loans Under Rule 15 of Nidhi Rules 2014
    • Frequently Asked Questions

    To establish a Nidhi Company, the following criteria must be met: 1. The company must have the suffix “Nidhi Limited” in its name 2. The company must be a Public Company. 3. Minor, Body Corporate and a Trust cannot be admitted as members to Nidhi. 4. The minimum paid-up share capital must be Rs. 5 lakh. 5. The company cannot issue preference shares...

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    Within one year of incorporation, a Nidhi company must satisfy the following conditions: 1. The minimum number of members must be 200. 2. The Net owned funds must be Rs. 10 lakhs. (Net owned funds is the aggregate of paid-up capital and free reserves reduced by the accumulated and intangible assets as appearing in the last balance sheet.) 3. The ne...

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    To apply for registration the Nidhi Company must have a minimum of 7 members and 3 Directors. On fulfilling this condition the Nidhi Company can follow the below-mentioned process: 1. Apply for Director Identification Number (DIN) and Digital Signature Certificate. 2. Go for Name Approval by using Reserve Unique Name (RUN) Service of MCA. 3. Prepar...

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    As per Rule 6 of Nidhi rules 2014, a Nidhi Company cannot perform the following activities: 1. Conduct the business of chit fund, leasing finance, and hire purchase. It cannot acquire securities issued by a body corporate. 2. Issue preference shares, debentures, or any debt instrument by any name or in any form whatsoever. 3. Open any current accou...

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    Forms NDH -1 and NDH -3 must be duly filed with the requisite fees and must be certified by a professional.

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    The following are the limits to the loan set against deposit made: A Nidhi company that has not made profits continuously in the three preceding financial years, shall not make any fresh loans exceeding 50% of the maximum amounts of loans specified above. A member shall not be eligible for any loan if he has defaulted on any prior loan repayment. T...

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    Yes. A Nidhi company can have branches up to 3 within the district. However, the Nidhi company can open more than 3 branches by obtaining the prior permission of the Regional Director within the district or outside the district but within the state. It must also give an intimation to the Registrar of Companies about the opening of the fourth branch...

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  9. www.caclubindia.com › articles › analysis-ofAnalysis of deposits by Nidhi companies - CAclubindia

    Jun 24, 2016 · In this article we discuss how much a Nidhi Company can take deposits and from whom. These are the rules and limitations for taking deposits by Nidhi Companies :-1. The ratio of Net Owned Funds of the Nidhi Company to deposits should not be more than 1:20. 2. Nidhi Company should not accept deposits from or lend to any person, other than its ...

  10. carajput.com › blog › nidhi-company-relatedNidhi Company Related Frequently Asked Questions CA Rajput

    Are Nidhi Company deposits safe and secure? Q.: Who is eligible to become a shareholder/member of Nidhi Company? Q.: Can a minor be a member of a Nidhi Company? Q.: Is it possible to provide loans to non-members? Q.: What are the Nidhi Company’s Restrictions? Nidhi Companies are not permitted to engage in the following activities: Q.: