Check Nidhi companies' antecedents before investing money; 348 entities failed to meet criteria: MCA

This is the second time in six months that the corporate affairs ministry has come out with an advisory as there are a large number of companies, which, though functioning as Nidhi companies, have not applied for such a status under the relevant rules. Nidhi companies are non-banking finance entities that are into lending and borrowing with their members.

from Banking/Finance-Industry-Economic Times https://ift.tt/3khpBDW