ABOUT US
Welcome to KANDAN MUTUAL BENEFIT SASWATHA NIDHI LIMITED
KANDAN MUTUAL BENEFIT FUND was founded by Shri D. LOGANATHA REDDY with a main object to encourage and afford all facilities for cultivating thrift, savings habit and to render all financial assistance to its members by receiving deposits from the members and to grant loans to the members on the security of deposits, movables such as gold, silver and on the security of immovable properties situated within City Limits of Chennai as are allowed by law.
The company is registered under Companies Act 1956 on 8th Feb 1979 as a public limited company in which public are SUBSTANTLY INTERESTED and subsequently the Fund has been declared as “NIDHI” by the Central Government under section 620A of the companies Act 1956, vide notifications no. G.S.R. Notification No. 231 dated 20th Feb 1985. Later the Name of the Company has been changed to KANDAN MUTUAL BENEFIT SASWATHA NIDHI LIMITED., in the year
The success of the Fund during the last 44 years is known for its prompt repayment of Deposits and Interest on Due Dates.
“All Transactions are with Members only.”
OBJECTIVES
To be pursued by the company on its incorporation to encourage and afford all facilities for cultivating thrift, savings habit and to render all financial assistance to its members by receiving long and short term deposits, and in particular recurring, fixed and other deposits from the members as are allowed by law.
The company shall not, however, do banking business as defined in the Banking Regulation Act 1949.
Shri. D. LOGANATHA REDDY
Founder
HISTORY OF FOUNDER
Shri. D. Loganatha Reddy, was the Retired Post Master ,Chennai and has been associated with the many Nidhi Companies and was Honorary Secretary for 36 years in SRI CHENNAPURI ANNADANA SAMAJAM, a philanthropic institution in Park Town, doing service to the poor for the over the last 131 years .
He has been serving this institution for the 36 years with unflagging zeal and devoting all his spare time and energy in looking after its interests and furthering its advancement. He is a sincere and loyal worker. He was also associated with many prominent members namely Sri Pondicherry ChengalvaryaChettiar, who was the Honorary Secretary till 1949, Dr.P.V.Rajamannar, D.Litt., LLD.,
Chief Justice of Madras (Retd), P.V. Rajamannar was the first Indian to become Chief Justice of Madras High Court after independence from 1948 to 1961. He was also associated with Many Nidhi Companies, after Retirement from Postal Department ,He started this Nidhi Company in the year 1979 with the same Zeal and devotion with sincere and loyalty to help the needy people with Finance by accepting the Deposits from members and granting Loans on Jewels , House Properties to members only.
With total dedication, he has raised the Deposit base above 1 crore.