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who we are
ERNAD NIDHI LIMITED is a Nidhi company registered under the provisions of Company’s Act, 2013, having its registered office at Chettippadi, Malappuram. The company comes under the direct control of Ministry of Corporate Affairs, Government of India. The key promoters of the company has had several decades of experience in finance sector and have held senior positions in leading financial institutions. The prime objective of the company is to encourage thrift and savings habit amongst its members, and to extend secured financial support to those when in need. Through this, the company hopes to unleash the growth potential of all regions it serves. Since inception, the company has earned high reputation for its yeoman services and is well appreciated by one and all associated with it.
About Nidhi Companies
Nidhi companies are special category of companies formed with the exclusive objective of cultivating the habit of thrift, savings and functioning for mutual benefit of members by receiving deposits only from individuals enrolled as members and by lending to individuals, also enrolled as members. Nidhi Companies function as per the Notifications issued by the Regulatory Authority, i.e. Ministry of Corporate Affairs, Government of India. As regards interests on deposits collected from members, they follow the directions issued by the Reserve Bank of India on the subject. In fact, the functioning of Nidhi companies is more or less similar to Co-operative Societies in so far as they also transact business with their members only. Loan is given to a member only on the security of collateral such as gold, silver, immovable property etc., which is a cushion for the money collected from the members as deposit.
Our Chairman – CS N.R. Bahuleyan
CS N.R. Bahuleyan has more than 30 years post qualification experience in top management/senior management positions in premier public sector/private sector companies. Prior to his retirement from active service he has worked as Chief General Manager/Company Secretary of Manappuram Finance Limited.( A premier NBFC in India) and Company Secretary/Head of HR – KELTRON(A state owned enterprise). He has also held positions of Director in Manappuram Benefit Fund Ltd. and Manappuram Chits Ltd., Chairman – Thrissur Chapter of ICSI, Secretary – Thrissur Management Association. At present, he is also designated as Independent Director in BRD Group, Debenture Trustee - Yogakshemam Loans Limited and General Secretary – Nidhi Companies Association (Kerala)
Message from the Chairman
"Nidhi Companies are special type of companies included in the Companies Act,2013. The basic objective of Nidhi Companies is primarily to cultivate the habit of thrift among the members. These companies operate as a co-operative venture in so far as business is transacted only with the members.Nidhi Companies are governed by strict guidelines for governance issued by the Ministry Of Corporate Affairs which includes guidelines for acceptance of deposits i.e, maintenance of prescribed SLR, Capital Adequacy Ratio of 10% of the deposit collected, guidelines on maximum interest to be paid on deposits, maximum interest to be charged on loans and collected from members, yearly audit of the accounts of the company, submission of periodical reports to The Registrar Of Companies, Government of India, collateral security by way of gold ornaments, silver, property etc for sanction of loans to members. As such Nidhi Companies offer safe investment vehicle for members and a convenient source for financial transactions among the customers of the company who are its members."
Managing Director
Shri. Vivek N B
(B.Tech, MBA)
Shri. Vivek has several years of corporate experience in the field of Logistics, Finance & IT. He has a proven ability to plan and co-ordinate strategies that help businesses grow. He has previously worked with HCL Technologies, Thappar Group and Manappuram Group. He is a certified Trainer with ASAP(A Govt. of Kerala Initiative) and is also designated as visiting faculty in a reputed Logistics Institute.
Executive Director
Shri. Sanjith P.P
An Entrepreneur with a deep passion for business. He is experienced in managing all aspects of business development.