Question

What is Nidhi Company and Which company can be a Nidhi Company?

Answer 1

'Nidhi' means a company which has been incorporated as a Nidhi with the object of cultivating the habit of thrift and savings amongst its members, receiving deposits from ,and lending to, its members only, for their mutual benefit ,and which complies with such rules as are prescribed by the central government for regulation of such class of companies.