Nidhi Company Banking Software Bangalore is a online web based software built especially for Nidhi Company with automatic posting of business data to accounts module. Websoftex Nidhi Banking is a .NET based centralized database online software for Nidhi Software with core banking operations such Fixed Deposit, Recurring Deposits, Daily Deposit Schemes, Loan to Customers, Monthly Income Schemes, Dividend declarations, Saving A/c, Current A/c, FD A/c, RD A/c, DDS A/c, Management of Cheque book, Passbook and Bond. Websoftex Nidhi Company Banking Software handles all kind of Loan operations, Printing Loan Ledger, Automatic Interest Calculations.
Websoftex has been working in software development since last seven years. In that period we have design lot of websites & software, “Nidhi Company Software” is one of them. Before developed that our experts research on that in very deep and understood the concept also. After more research on that we started the work to develop the “Nidhi Company Software” software. Our team thought that lot of limitation in window base like core banking, real time updating is not available etc., so we decided to develop that application on Web.
In exercise of the powers conferred under sub-section (1) of section 406 read with sub-sections (1) and (2) of 469 of the Companies Act, 2013, the Central Government hereby makes the following rules, namely:-
- These Rules may be called Nidhi Rules, 2013.
- They shall come into force on the date of their publication in the Official Gazette.
- These rules shall apply to:
(a) Every company which had been declared as a Nidhi or Mutual Benefit Society under sub-section (1) of section 620A of the Companies Act, 1956.
(b) Every company functioning on the lines of a Nidhi company or Mutual Benefit Society but has either not applied for or has applied for and is awaiting notification to be a Nidhi or Mutual Benefit Society under sub-section (1) of section 620A of the Companies Act, 1956.
(c) Every company incorporated as a Nidhi pursuant to the provisions of section 406 of the Act (hereinafter referred to as Nidhi).
- 4. in these rules:-
(i) “Act” means the Companies Act, 2013.
(ii) “Doubtful Asset” means a borrowal account which has remained a non-performing asset for more than two years but less than three years.
(iii) “Financial year” means financial year as defined in sub-section (41) of section 2 of the Act.
(iv) “Loss Asset” means a borrowal account which has remained a non-performing asset for more than three years or where in the opinion of the Board, a shortfall in the recovery of the loan account is expected because the documents executed may become invalid if subjected to legal process or for any other reason.
(v) “Member” means a member as defined in sub-section (55) of section 2 of the Act.
(vi) “Net Owned Funds” means the aggregate of paid up equity capital and free reserves as reduced by accumulated losses and intangible assets appearing in the last audited balance sheet:
(a) A reserve shall be considered as a “free reserve” if it is available for distribution as dividend.
(b) The amount representing the proceeds of issue of preference shares shall not be included for calculating Net Owned Funds.
(vii) “Non-Performing Asset” means a borrowal account in respect of which interest income and/or installment of loan towards repayment of principal amount has remained unrealised for 12 months.
(viii) “Standard Asset” means the asset in respect of which no default in repayment of principal or payment of interest has occurred or is perceived and which has not shown signs of any problem relating to repayment of principal sum or interest nor does it carry more than normal risk attached to the business.
(ix) “Sub-Standard Asset” means a borrowal account which is a non performing asset:
Provided that reschedulement or renegotiation or rephasement of the loan instalment or interest payment would not change the classification of an asset unless the borrowal account has satisfactorily performed for at least twelve months after such reschedulement or renegotiation or rephasement.