Govt Declares Shri Narayani Nidhi Ltd as Nidhi Company under Section 406
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Notification No. S.O. 3528(E); Dated: 30.07.2025
Central Government Grants Nidhi Status to Shri Narayani (Kumbakonam) Nidhi Limited
The Central Government, in exercise of the powers conferred under sub-section (1) of section 406 of the Companies Act, 2013, has officially declared ‘Shri Narayani (Kumbakonam) Nidhi Limited’ as a “Nidhi” company. This recognition grants the company a special status in the financial ecosystem, allowing it to function as a mutual benefit society that promotes savings and financial discipline among its members.
Company Profile and Registration Details
Shri Narayani (Kumbakonam) Nidhi Limited is a public limited company registered under CIN: U74999TN2017PLN120244. It was incorporated in the year 2017 and operates with the primary objective of cultivating a habit of thrift and savings among its members. With this declaration, the company is now officially recognized under the Companies Act as a non-banking finance entity that is governed by Nidhi rules and regulations.
Registered Office Located in Tamil Nadu
The company has its registered office in Kumbakonam, a town in the Thanjavur district of Tamil Nadu, known for its rich cultural heritage and financial institutions. Operating from this base, the company is expected to extend its services to the local community, offering deposit and loan products exclusively to its members, in line with Nidhi company norms. The recognition will also enhance its trustworthiness among the local populace.
Implications of Nidhi Company Status
Being declared a Nidhi company provides several operational benefits, including regulatory clarity, credibility, and legal backing for undertaking financial activities restricted to its members. Such entities are permitted to accept deposits and lend money among their members, providing a community-based alternative to traditional banking services. Shri Narayani (Kumbakonam) Nidhi Limited must now comply with the Nidhi Rules, 2014, including restrictions on activities, capital structure, and reporting obligations to ensure continued compliance.
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