valid as on 21/07/2024

26.1.7 Nidhi Rules, 2014

7. Share capital and allotment.—(1) Every Nidhi shall issue equity shares of the nominal value of not less than ten rupees each:

Provided that this requirement shall not apply to a company referred to in sub-rules (a) and (b) of rule 2.

(2) No service charge shall be levied for issue of shares.

(3) Every Nidhi shall allot to each deposit holder at least a minimum of ten equity shares or shares equivalent to one hundred rupees:

Provided that a savings account holder and a recurring deposit account holder shall hold at least one equity share of rupees ten.

Inserted vide the Nidhi (Amendment) Rules, 2019 dated 01.07.2019 w.e.f., 15.08.2019. To view the Notification, Click Here.

The Nidhi (Amendment) Rules, 2019 dated 01.07.2019 w.e.f., 15.08.2019

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