https://www.taxtmi.com/notifications?id=23811 The Central Government prescribes conditions for companies declared as Nidhis: they are prohibited from engaging in chit fund, insurance, hire purchase or business in shares or debentures; from opening new branches or current accounts with members; from admitting corporate members; and from amending their memorandum or articles without government approval. Each declared Nidhi must have at least one thousand members, have completed one financial year, and have made a reasonable profit after writing off preliminary expenses and brought forward losses. en-us Fri, 28 Apr 1995 00:00:00 +0530 Wed, 22 Jun 2011 10:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=23811 The Central Government prescribes conditions for companies declared as Nidhis: they are prohibited from engaging in chit fund, insurance, hire purchase or business in shares or debentures; from opening new branches or current accounts with members; from admitting corporate members; and from amending their memorandum or articles without government approval. Each declared Nidhi must have at least one thousand members, have completed one financial year, and have made a reasonable profit after writing off preliminary expenses and brought forward losses. Notifications Companies Law Fri, 28 Apr 1995 00:00:00 +0530 https://www.taxtmi.com/notifications?id=23811