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.source https://economictimes.indiatimes.com/industry/banking/finance/check-nidhi-companies-antecedents-before-investing-money-348-entities-failed-to-meet-criteria-mca/articleshow/85593509.cms
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