Content What is NIDHI Company? Features of NIDHI Company What are the restrictions on NIDHI Company? What are the key points regarding branches? What are the limits against the deposit made for permitting the loans? What are the various returns required to be filed by NIDHI with ROC? NDH-1 (Return of Statutory Compliances) NDH-2 (Application…

Letters of credit are letters that banks issue to verify the credit a business or person has. They are useful because they tell sellers that the bank will back the buyer in the event the buyer can’t pay on his own. A letter of credit, also known as a documentary credit or banker’s commercial credit,…

A Non Banking Financial Company (NBFC) is a company registered under the Companies Act, 2013 of India, engaged in the business of loans and advances, acquisition of shares, stock, bonds, hire-purchase insurance business or chit-fund business, but does not include any institution whose principal business is that of agriculture, industrial activity, purchase or sale of…

The Micro finance Company is basically the financial institutions that provide small-scale financial services in the form of loan, credit or savings. These companies are introduced to ease the credit system for small businesses as they don’t get a loan from banks due to their complex process. Therefore it is commonly named as a Micro-credit,…

In the context of the Indian Financial Sector a mutual benefit society is termed as Nidhi Company by the Central Government of India which is derived from depth of the word “treasure”. The main object is to cultivate the habit of thrift and saving among its members. The dealings of Nidhi Company are restricted to…

Guidelines for filing of form NDH-4 (Application for Declaration/ Updation of status of Nidhi) 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…

MCA India Filings Digital India Make in India StartUp

Copyright © 2020 Goyal Mangal & Company.