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    Question

    Refer to the following information to answer the next 4 questions (Q9 to Q12) Nidhi Company is an NBFC (Non-Banking Financial Company). Nidhi in simple terms means a company which is formed with the object of cultivating the habit of thrift and savings. These are regulated entities and the rules and directions governing Nidhi Companies are issued from time to time. The formation of the Nidhi Company is very easy process. It requires only ____ members out of which 3 members would be the directors. The Nidhi company takes hardly 10-5 days to get registered. Also no. of the documents required for the registration are very less.

    What is the minimum number of members required to be

    incorporated as a Nidhi company?
    A 2 Correct Answer Incorrect Answer
    B 3 Correct Answer Incorrect Answer
    C 5 Correct Answer Incorrect Answer
    D 7 Correct Answer Incorrect Answer
    E 10 Correct Answer Incorrect Answer

    Solution

    Nidhi Company can be incorporated with a minimum seven members and out of these 7 members, 3 members must be the director of the company.  

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