Dreamland City Nidhi Limited is a NBFC Catagory Financial institution (A Public Company ) which duly
approved by the Government of India, Ministry of Corporate Affairs. A Nidhi or mutual benefit company declared
by govt.Of India. "Nidhi is a company formed with the exclusive object of cultivating the habit of thrift, savings
and functioning for the mutual benefit of members by receiving deposits only from individuals enrolled as
members and by lending only to individuals, also enrolled as members" -Section 406 of Companies Act, 2013 &
Companies Rules 2014. Nidhi Company are registered or formed for the benefit for its members only, who is not
the member of the Nidhi Company is not allowed to deposit any money or doing any kind of business with the
concerned Nidhi Company.
Dreamland City Nidhi Ltd has the rules and Objectives same as any nationalized bank but is only in effect to
someone (Members ) who have or had agreed to join the family of Dreamland City Nidhi Ltd and Abide by all Its
Rules And Regulation.
WHAT IS A NIDHI COMPANY?
Since the notified nidhi companies are exempted from the provision of Section 45-IA (Compulsory Registration
with RBI), Section 45-IB (Maintenance of Liquid Assets) and Section 45-IC (Creation of Reserve Fund), it has
been decided on the lines of Government advice to exempt the MBCs in of existence as on January 9, 1997 and
having NOF of Rs. 10 Lakh from the above mentioned provisions of the Act in terms of powers vested with the
Bank under Section 45 NC of the Act and also from those provision of NBFC Direction on Acceptance of Public
Deposite and Prudential Norms which do not apply to notified Nidhi Companies.
