(1)Every Nidhi shall issue [fully paid up] [Inserted by Notification No. G.S.R. 467(E), dated 1.7.2019 (w.e.f. 31.3.2014).] equity shares of the nominal value of not less than ten rupees each:Provided that this requirement shall not apply to a company referred to in sub-rules (a) and (b) of rule 2.
