Nidhi company restirctions

Binal Salot (PRACTICING CHARTERED ACCOUNTANT)   (43 Points)

14 July 2017  
I WOULD LIKE TO KNOW THAT WHETHER NIDHI COMPANY CAN LEND MONEY TO ITS MEMBER BEING PARTNERSHIP FIRM AND ALSO WHEN THE DIRECTORS OF THE NIDHI COMPANY AND THE PARTNERS OF THE PARTNERSHIP FIRM IS SAME INDIVIDUALS? ALSO IS THERE VIOLATION OF ANY OTHER LAW THAN ALSO PLEASE POINT OUT THE LAW AND RELEVANT SECTION THANKS AND REGARDS