Question
Every Nidhi Company shall, within a period of one year
from the commencement of the Nidhi Rules 2014, ensure that it has _______________Solution
Section 5 Â for minimum number of members, net owned fund etc.: (1) Every Nidhi shall, within a period of one year from the commencement of these rules, ensure that it has:Â (a) not less than two hundred members; (b) Net Owned Funds of ten lakh rupees or more; (c) unencumbered term deposits of not less than ten per cent of the outstanding deposits as specified in rule 14; and (d) ratio of Net Owned Funds to deposits of not more than 1:20.
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