Nidhi Company is an NBFC (Non-Banking Financial Company). Nidhi in simple terms means a company which is formed with the object of cultivating the habit of thrift and savings amongst the members and receiving deposits from and lending to the members for their mutual benefits. Only individual members are allowed in Nidhi companies and it cannot give loans to companies. These are governed by the Nidhi Rules 2014 issued by the Ministry of Corporate Affairs . Nidhi Company though it is a finance company and falls under the category of NBFC, does not require approval of RBI . Nidhi Company does not require to obtain a licence from RBI. Though the Nidhi Companies are free from the strict compliance of the RBI regulations, their deposit acceptance operations are governed by the RBI
Non cognizable offence means
Contingent agreements to do or not to do anything, if an impossible event happens, are void ____________
In case of a suit filed on basis of fraud, the period of limitation begins from?
According to Section ______________ of Minimum Wages Act 1948, employer shall pay him overtime worked
What is the time limit to get the information under RTI Act 2005?
As per Negotiable Instrument Act, the term negotiable means
Indian Taxation law is based on which of the following principle?
Which of the following section of Cr. p.C is related with the inherent power of High Court ?
Every agreement of which the object or consideration is unlawful is_____________
Who are not competent to Contract as per the Contract Act?