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        Companies Law

        Rule 6 - General restrictions or prohibitions.

        Nidhi Rules, 2014
        Chapter 01

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        Restrictions on Nidhi operations: prohibition on accepting deposits from non-members and on non-core financial activities and fundraising. Rule 6 enumerates prohibitions on Nidhis: they shall not carry on non-core financial businesses, issue preference shares or any debt instruments, open current accounts for members, acquire or control other companies, accept deposits from or lend to non-members or body corporates, pledge members' assets, enter partnership arrangements for lending/borrowing, solicit deposits by advertisement (except private circulation to members), pay brokerage for mobilisation of deposits, or raise external loans for advancing loans to members; locker rental to members is allowed within a twenty per cent gross income cap.
                    Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                    Provisions expressly mentioned in the judgment/order text.

                        Restrictions on Nidhi operations: prohibition on accepting deposits from non-members and on non-core financial activities and fundraising.

                        Rule 6 enumerates prohibitions on Nidhis: they shall not carry on non-core financial businesses, issue preference shares or any debt instruments, open current accounts for members, acquire or control other companies, accept deposits from or lend to non-members or body corporates, pledge members' assets, enter partnership arrangements for lending/borrowing, solicit deposits by advertisement (except private circulation to members), pay brokerage for mobilisation of deposits, or raise external loans for advancing loans to members; locker rental to members is allowed within a twenty per cent gross income cap.


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