Silver jubilee for Nidhis

CHENNAI: Chamber of Nidhis, which has been in the forefront championing the cause of nidhi companies and in getting their grievances redressed, celebrated its silver jubilee on Thursday. Addressing the gathering, the former Chief Election Commissioner and former Secretary, Department of Company Affairs, T S Krishnamurthy, revealed that there were several attempts in the past to close down nidhi companies due to mismanagement. “Since some nidhi companies earned a bad name, the government brought in several stringent regulations to keep such companies managed better,” he added. He also advocated setting up offices of the Chamber of Nidhis at each district headquarters to educate investors.