How can I expand the operations of my Nidhi Company to different areas?
A minimum of three branches can be opened in a particular district. In case you want to expand outside the district or want to open more than three branches, the Registrar of Companies need to intimated 30 days prior to their opening.
Should I dissolve my Nidhi Company because it has not gained the necessary numbers of representatives in spite of completing one full year of tenure?
The conditions laid down by the Act says that a Nidhi Company should acquire a minimum of 200 members within its first year of incorporation. However, in case the company is not able to meet the required numbers, it can apply for an extension with the necessary government authorities.
In a Nidhi Company, are members allowed to
credit or debit cash to the general fund?
No, members are only allowed to deposit, borrow, or lend funds.
What are the criteria to become a representative of a Nidhi Company?
Any person can deposit, lend or borrow money through the provisions provided by the Companies Act, 2013. Hence, they can all become members of a Nidhi Company. provided they are not a corporation or a company.
In a Nidhi Company, what should the limit for cash deposit be, for its representatives?
A Nidhi Company can accept deposits not exceeding 20 times of its net owned assets, as per the last audited statements.