The fixed deposits shall be accepted for a minimum period of six months and a maximum period of sixty months. A Nidhi may offer interest on FIXED DEPOSITS at a rate not exceeding the maximum rate of interest prescribed by the Reserve Bank of India which the Non-Banking Financial Companies can pay on their public […]
A Nidhi may open branches, only if it has earned net profits after tax continuously during the preceding three financial years. b. A Nidhi may open up to three branches within the district. c. A Nidhi shall not open branches outside the State where its registered office is situated d. If a Nidhi proposes to […]
The rate of Interest to be charged on loan given by Nidhi can not go above seven and a half percent (7.5%) above the highest rate of interest offered on deposits by Nidhi Company. EXAMPLE: Interest offered to the depositor 1: 9.5% Interest offered to the depositor 2: 8.5% So, the maximum rate of interest […]
A Nidhi shall provide loans only to its members. A Nidhi shall give loans to its members only against the following securities, namely:- (a) gold, silver and jewellery: Provided that the repayment period of such loan shall not exceed one year. (b) immovable property: Provided that the total loans against immovable property shall not exceed […]
S. No. Title Description 1. Valuation Report The Valuation Report for value of share from the registered Valuer as per Section 247 of the Companies Act, 2013 (Registered with IBBI) 2. Holding the board meeting Approve increase in Authorized capital.Approve the list of persons to whom the securities shall be issued on private placement basis.Approve […]
EQUITY SHARES WITH DIFFERENTIAL VOTING RIGHTS: are those shares that give the shareholder extra rights to vote as compared to other shareholders. The equity shares with higher voting rights are issued to promoters, managing directors, key managerial persons, etc. APPLICABLE PROVISIONS: Section 43(2) of the Companies Act, 2013 along with Rule 4 of Companies (Share […]
As per the Rule 4 of Companies (Meetings of Board and its Powers) Rules, 2014, the following Matters were not be dealt with in a meeting through VC/OAVM:
The Companies Act, 2013 (Act) does not provide provisions of holding Annual General meeting through VC. Hence, if any company cannot hold the meeting physically, then the Company can hold the meeting through VC/OAVM mode by following the procedure prescribed in the circulars issued by Ministry of Corporate Affairs (MCA).
As per section 2(85) of the companies act 2013, small company means a company otherthan public company and having A Paid up share capital equal to below 50 lacks or such higher amount as specifiedwhich shall not exceed more than Rs. 10 crores A turnover equal to or below Rs.2 crore or such a […]
MICRO FINANCE ACTIVITES BY SECTION 8 COMPANIES PRIOR TO THE MINISTRY’S DIRECTION LETTER NO. 05/33/2017-CL.V DATED 10-02-2020 Limits: - Section 8 Micro Finance Company can give unsecured loan to small businesses upto Rs. 50,000/- and can give loan for dwelling residence up to Rs.1.25 lakhs MAIN FEATURES OF SECTION-8 MICRO FINANCE COMPANY AS PER MINISTRY’S […]
