26 July 2019
Question 1) Nidhi Company can give secured loan to its Member but Nidhi Company can't pledge any of the assets lodged by its members as security. Then how Nidhi Company can give loan to its member by mortgage of any asset of member?
Question 2) After registration under MCA, do we need to take any other registration from RBI regarding NIDHI activities to run?
26 July 2019
A Nidhi shall give loans to its members only against the following securities, namely:— Loans to the members shall be given against the securities of gold, silver and jewellery and immovable property. Loan may be given against the fixed deposit receipts, National Savings Certificates and other Government securities and insurance policies.
Nidhi Company can give loan to members against Immovable property.. That means Nidhi Company cant give loan against any TV, Fridge, Computer, Mobile etc because it is movable property. Then how a Nidhi can provide loan to its members.
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