Nidhi Companies Full Form, Chit Fund and Nidhi Software, Nidhi Development

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NIDHI COMPANY
IMPORTANT POINTS TO REMEMBER
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CONCEPT
Nidhi Companies in India were created for
cultivating the habit of small savings targeted
at the lower and middle class.
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CONCEPT
Its investment structure consists of realigning
funds within a growing group of members who
benefit from returns at fixed durations. 
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CONCEPT

• The contributions of funds generated in Nidhi
  investments are realized from its members
  (shareholders). 
• Nidhi companies are minute when compared to the
  banking sector and promotes the cultivation of
  savings amongst a group of people.

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FEATURES

• Promotes small savings among middle and lower
  middle class
• Accepts term deposits for timely returns
• Easy source of loan to members against
  collateral

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FEATURES

• Effective means of savings and loans with minimum
  documentation.
• Secured means of investment due to rigid
  membership structure

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OBJECTIVE

• The primary object of Nidhi companies is
  investment deposits and loans applicable to
  members only.
• Loans are provided to members against collateral
  in form of jeweler and mortgage of property.

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IMPORTANT POINTS

• A Nidhi Company must have a minimum of 200
  shareholders
• A Nidhi company must have unencumbered term
  deposits of not less than 10 of the outstanding
  deposits
• A Nidhi must have net owned funds of ten
  lakh rupees or more

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IMPORTANT POINTS

• Minimum 7 Shareholders and 3 Directors are
  required to incorporate the Nidhi Company
• Nidhi can issue only rights shares and
  unsubscribed portion of rights issue can be
  apportioned by the Board of Directors as per the
  existing law

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IMPORTANT POINTS

• A Nidhi Company must ensure that the number of
  membership should feature a minimum of 200
  shareholders.
• Nidhi Investments for minors can only be done
  where the legal guardian is a member of the Nidhi
• Nidhi members should not exercise over and above
  10 of the total voting rights of all
  shareholders

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IMPORTANT POINTS

• Every Nidhi Company shall issue the equity shares
  of a minimum value of Rs10
• The Nidhi Company should not be allowed to issue
  any new preference shares at any time.

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A SOFTWARE ALL YOU NEED