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 42 years is known for its prompt repayment of Deposits and Interest on Due Dates.
“All Transactions are with Members only.”