Share capital requirements for Nidhi companies set minimum par value and mandatory share allotment rules for deposit holders. Rule 7 mandates that every Nidhi must issue fully paid-up equity shares of a specified minimum nominal value, subject to stated exemptions. No service charge may be levied for the issue of shares. Every Nidhi must allot to each deposit holder at least a minimum number of equity shares or shares equivalent to a prescribed minimum value, with a lower holding requirement for savings and recurring deposit account holders.
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Provisions expressly mentioned in the judgment/order text.
Share capital requirements for Nidhi companies set minimum par value and mandatory share allotment rules for deposit holders.
Rule 7 mandates that every Nidhi must issue fully paid-up equity shares of a specified minimum nominal value, subject to stated exemptions. No service charge may be levied for the issue of shares. Every Nidhi must allot to each deposit holder at least a minimum number of equity shares or shares equivalent to a prescribed minimum value, with a lower holding requirement for savings and recurring deposit account holders.
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