Member Agreement

Shareholder Membership Terms

By applying for membership with Swabhiman Pawan Nidhi Limited, you agree to become a shareholder and abide by the bylaws of the company, which are formulated in accordance with the Nidhi Rules, 2014 and the Companies Act, 2013.

1. Share Acquisition Requirement

As per the statutory rules governing Nidhi Companies, every individual must be a member to utilize our deposit and loan services.

• Minimum Holding: A member must subscribe to a minimum of 10 equity shares or shares equivalent to ₹100.
• Savings Account Holders: Members opening only a savings account may subscribe to a minimum of 1 equity share of ₹10.
• Non-Refundable Fee: Share capital is non-refundable while the member holds active loans or deposits, but can be redeemed upon termination of membership subject to branch approval.

2. Rights and Voting

As a shareholder-member of Swabhiman Pawan Nidhi Limited, you hold the right to attend the Annual General Meeting (AGM) of the company. However, the operational and lending decisions remain strictly at the discretion of the Board of Directors, keeping the collective safety of members' funds as the highest priority.

3. Termination of Membership

Membership can be terminated by submitting a formal Share Surrender Application. Termination is subject to the complete clearance of all outstanding loan dues, interest payments, and closure of active fixed or recurring deposit accounts. The face value of the shares will be returned to the member's registered account upon successful termination.