Vaasavi Nidhi Ltd. Vs Union of India (Madras High Court)
Madras High Court directs to furnish fresh reply regarding compliance of defects stated in order rejecting application in e-form NDH-4 filed by Nidhi Company. Further, department directed to pass order after considering fresh replies and after providing opportunity of being heard.
Facts- These Writ petitions have been filed by the petitioner challenging the orders passed by the respondent, rejecting the application in e-Form NDH-4 filed by the petitioner.
Writ petitioner also assails to declare the amendment made substituting Section 406 of The Companies Act 2013 with new Section 406 as per The Companies (Amendment) Act 2017 (Act 1 of 2018) published vide gazette dated 03.01.2018 and notified with effect from 15.08.2019 requiring the Nidhi Companies which are already incorporated as Nidhi Companies to once again get a declaration as Nidhi by the Central Government is illegal, excessive, arbitrary and unconstitutional and strike down the same; to declare the amendment made to Nidhi Rules 2014 by Nidhi (Amendment) Rules 2019 vide notification dated 01.07.2019 with effect from 15.08.2019 by inserting Rule 3A and Rule 23A are illegal, excessive, arbitrary and unconstitutional and strike down the same; to declare the amendment made to Nidhi Rules 2014 by Nidhi (Amendment) Rules 2022 vide notification dated 19.04.2022 with effect from 19.04.2022 by inserting provisos to Rule 3A and Rule 23A are illegal, excessive, arbitrary and unconstitutional and strike down the same.
