The Ministry of Corporate Affairs issued Notification G.S.R. 413(E) on July 16, 2024, amending the Nidhi Rules, 2014. The amendment, effective upon publication, introduces a new proviso to rule 4(5) of the Nidhi Rules, stating that a company cannot use the name “Nidhi Limited” unless it has been officially declared as such under section 406 of the Companies Act, 2013. This rule aims to ensure that only appropriately declared companies can use the term “Nidhi Limited” in their name.
MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION
New Delhi, the 16th July, 2024
G.S.R. 413(E).In exercise of the powers conferred by sub-section (1) of section 406 read with sub-sections (I) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules, further to amend the Nidhi Rules, 2014, namely:-
1 (1) These rules may be called the Nidhi (Amendment) Rules, 2024.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the Nidhi Rules, 2014, in rule 4, in sub-rule (5,) the following proviso shall be inserted, namely: –
“Provided that a company shall not use the words “Nidhi Limited” in its name unless it is declared as such under sub-section (1) of section 406 of the Act. ”
[F. No. 5/62/2023-CL-VII-MCA]
MANOJ PANDEY, Addl. Secy.
Note: The principal rules were published in the Gazette of India vide notification number G.S.R. 258(E), dated the 2nd April, 2014, subsequently amended vide notification number G.S.R. 467(E) dated the 1st July, 2019, subsequently amended vide notification number G.S.R. 114(E) dated the 14th February, 2020, further amended, vide notification number G.S.R. 301(E) dated the 19th April, 2022 and were last amended, vide notification number G.S.R. 35 (E) dated the 20th January, 2023.
