Terms For Membership

  1. A person is to be a member once in the company during his/her lifetime.
  2. A person has to affix his passport size photograph along with self-attested copy of PAN Card and Identity Proof in the Application Form which is mandatory.
  3. A member can open Saving/Recurring/Fixed Deposit and any other specific deposit account as decided by the company.
  4. Loan can be granted to the members only.
  5. Loan to members can be granted against their deposits/gold/properties and other specified securities etc. on sole discretion of the company only.
  6. At the time of maturity the specimen signature of the member shall be tallied.
  7. Resident of Rajasthan or person employed in this state or businessman/professionals with their business establishment in this state can become the member of the company.
  8. The applicant shall not be the member of another Nidhi / Mutual Benefit Company.
  9. The applicant shall be of major, sound mind and eligible to enter into a contract or agreement.
  10. The member shall have not been punished for any criminal offence by the any court of law.
  11. The member shall not be engaged with any other competitor of the company in any manner.
  12. The member can transfer shares only after he/she/they have completed one year of the membership in the company.
  13. In case of loss/transfer of Share Certificate the member have to pay Rs. 200/- for reissue of the Share Certificate.
  14. All the Cheques/DD shall be drawn in favor of “Vaibhav Nidhi India Limited”.
  15. The company reserves all the rights related to refund/buy back of shares.
  16. The membership of the applicant can be terminated by the company if any of the information provided by the applicant is found false/wrong and/or if the member does not comply with the terms and conditions of the company.
  17. The Membership and Shareholding are also subject to the provisions of the Companies Act 2013, Nidhi Company Rules & Regulations and all other applicable rules and regulations in India.
  18. All the disputes are subject to Jaipur jurisdiction only.
  19. I/We acknowledge I/We have read and understood the contents of this form, and have been given full opportunity to discuss the implications of this consent of my/our own free will and my/our decision is not based upon representations or advice by representatives of the Company.

Preliminary Terms & Conditions subject to change.

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