Section 7: Share capital and allotment
Chapter XXVI - Nidhi Rules, 2014.Central Rules · 2013
(1) Every Nidhi shall issue equity shares of the nominal value of not less than ten rupees each:
Provided that this requirement shall not apply to a company referred to in sub-rules (a) and (b) of rule 2.
(2) No service charge shall be levied for issue of shares.
(3) Every Nidhi shall allot to each deposit holder at least a minimum of ten equity shares or shares equivalent to one hundred rupees:
Provided that a savings account holder and a recurring deposit account holder shall hold at least one equity share of rupees ten.
Where this provision sits
Find the provision, not just read it
The full text above is free, and it stays free. What a free CourtMesh account adds is everything you cannot do by reading one page at a time:
- Search 49,000+ Central and State enactments by what a provision says, not by its number
- Jump from any section to every judgment that has applied it
- Search 300 million+ Indian court records alongside the statute
- Ask a research agent to find and read the case law on a provision for you
Free account. No card. About a minute to create.
Create a free account