Rules and Regulations for Membership

1. Pranavam Artisans Nidhi company is recognized under section 406 of the Companies Act, 2013 read with Nidhi Rules 2014 and is regulated by Ministry of Corporate Affairs (MCA), Govt. of India.
2. The Company falls under the Non Banking Indian Finance sector and core functions are borrowing and lending money among its members for their mutual benefit.
3. Any person, above the age of 18 as per age proof, is eligible to become a share holder/member of the company.
4. Only members/share holders of the company can avail of the dervices provided by the company.
5. Face value of each share of Pranavam Artisan Nidhi Ltd is fixed at Rs. 100/-
6. These shares are non transferable.
7. In case of death of the share holder, the shares will be automatically transferred to the Nominee as mentioned in the share application form.
8. Minimum number of shares issued to a member is 01
9. The shares can be returned to the company and money withdrawn only after 5 years.
10. In case if the shares are returned before the completion of 5 years, service charges are applicable.