Nidhi Companies

Nidhi Company Incorporation and Requirements

Company Law - Nidhi Company– A Company Which Has Been Incorporated With The Objective Of Cultivating The Habit Of Thrift And Savings Amoungst Its Members, Receiving Deposits From And Lending To Its Members Only, For Their Mutual Benefit, And Complies With The Rules Of Chapter Xxvi Nidhis Rules, 2014 Made By The Central Government. In General Term...

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FORM NDH-4: Applicability & Filing

Company Law - (Form for filing application for declaration as Nidhi Company and for updation of status by Nidhi) Notification: Ministry of corporate affairs had issued Notification dated 01st July 2019. These rules called as Nidhi (Amendment) Rules, 2019 and came into force with effect from 15 August, 2019. Applicable to-  All Nidhi Companies. Every N...

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Compliances & rules for Nidhi Companies under Company Law

Company Law - Nidhi means a company which has been incorporated as a Nidhi with the object of cultivating the habit of thrift and savings among its members, receiving deposits from, and lending to, its members only, for their mutual benefit, and which complies with such rules as are prescribed by the Central Government for the regulation of such class ...

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Application to Central Government by Nidhi Companies

Company Law - As per Nidhi (Amendment) Rules, 2019, Rule 3A, 23A & 23B was inserted in Companies (Nidhi) Rules, 2014 which came into effect w.e.f. 15.08.2019. Accordingly Every Nidhi company whether incorporated before or after 15.08.2019 are required to get itself declared as Nidhi by filing form NDH-4. > Rule 3A of Companies (Nidhi) Rules, 201...

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Nidhi Company Compliance

Company Law - “Nidhi” means a company which has been incorporated as a Nidhi with the object of cultivating the habit of thrift and savings amongst its members, receiving deposits from, and lending to, its members only, for their mutual benefit, and which complies with such rules as are prescribed by the Central Government for regulation of such [&...

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Verify status of Nidhi companies before investment: MCA

Company Law - Investors are advised to verify the antecedents / status of a Nidhi Company especially their declaration of their status as Nidhi Company by the Central Government before becoming its member and investing their hard earned money in such companies....

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Sensitization of Nidhi companies towards section 406 compliance

Company Law - Sensitization of Nidhi companies towards compliance of provisions of section 406 of Companies Act, 2013 and Nidhi Rules, 2014 as amended vide Nidhi (Amendment) Rules, 2019 w.e.f 15.08.2019 and general public to invest in genuine and compliant Nidhis only. In order to make regulatory regime for Nidhi Companies more effective and also to ac...

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Nidhi Companies to apply to update their as Nidhi Company

Company Law - In order to make regulatory regime for Nidhi Companies more effective and also to accomplish the objectives of transparency & investor friendliness in corporate environment of the country, the Central Government has recently amended the provisions related to NIDHI under the Companies Act and the Rules (effective from 15.08.2019)....

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Exemptions to Nidhis under section 462 of CA 2013

Notification No. G.S.R. 465(E) - (05/06/2015) - entral Government in the interest of public, hereby directs that certain provisions of the Companies Act, 2013, as specified in column (2) of the Table, shall not apply or shall apply with such exceptions, modifications and adaptations, as specified in column (3) of the said Table, to Nidhis, namely...

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Nidhi Rules, 2014

Notification No. G.S.R. 258(E) - (31/03/2014) - Nidhi Rules, 2014 applies to every company which had been declared as a Nidhi or Mutual Benefit Society under sub-section (1) of section 620A of the Companies Act, 1956, every company functioning on the lines of a Nidhi company or Mutual Benefit Society but has either not applied for or has applied ...

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Recent Posts in "Nidhi Companies"

Nidhi Company Incorporation and Requirements

Nidhi Company– A Company Which Has Been Incorporated With The Objective Of Cultivating The Habit Of Thrift And Savings Amoungst Its Members, Receiving Deposits From And Lending To Its Members Only, For Their Mutual Benefit, And Complies With The Rules Of Chapter Xxvi Nidhis Rules, 2014 Made By The Central Government. In General Term...

Read More
Posted Under: Company Law |

FORM NDH-4: Applicability & Filing

(Form for filing application for declaration as Nidhi Company and for updation of status by Nidhi) Notification: Ministry of corporate affairs had issued Notification dated 01st July 2019. These rules called as Nidhi (Amendment) Rules, 2019 and came into force with effect from 15 August, 2019. Applicable to-  All Nidhi Companies. Every N...

Read More
Posted Under: Company Law |

Compliances & rules for Nidhi Companies under Company Law

Nidhi means a company which has been incorporated as a Nidhi with the object of cultivating the habit of thrift and savings among its members, receiving deposits from, and lending to, its members only, for their mutual benefit, and which complies with such rules as are prescribed by the Central Government for the regulation of such class ...

Read More
Posted Under: Company Law |

Verify status of Nidhi companies before investment: MCA

Investors are advised to verify the antecedents / status of a Nidhi Company especially their declaration of their status as Nidhi Company by the Central Government before becoming its member and investing their hard earned money in such companies....

Read More
Posted Under: Company Law |

Application to Central Government by Nidhi Companies

As per Nidhi (Amendment) Rules, 2019, Rule 3A, 23A & 23B was inserted in Companies (Nidhi) Rules, 2014 which came into effect w.e.f. 15.08.2019. Accordingly Every Nidhi company whether incorporated before or after 15.08.2019 are required to get itself declared as Nidhi by filing form NDH-4. > Rule 3A of Companies (Nidhi) Rules, 201...

Read More
Posted Under: Company Law |

Nidhi Company Compliance

“Nidhi” means a company which has been incorporated as a Nidhi with the object of cultivating the habit of thrift and savings amongst its members, receiving deposits from, and lending to, its members only, for their mutual benefit, and which complies with such rules as are prescribed by the Central Government for regulation of such [&...

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Posted Under: Company Law |

Incorporation of Nidhi Company and its Compliances

Nidhi company are governed by section 406 of Companies Act 2013 and Companies (Nidhi Companies) Rules, 2014. Today we will look into the incorporation procedure and documents required for incorporation of NIDHI company. Points to remember: 1. A NIDHI company is always incorporated as public company. 2. NIDHI company can only accept deposi...

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Posted Under: Company Law |

Nidhi Company: A Detailed Analysis

♦ Nidhi Company: Nidhi Company is a form of NBFC, incorporated U/s. 406 of the Companies Act, 2013 and only public company U/r 4(1) can be declared as Nidhi Company. The Ministry of Corporate Affairs (MCA) is the body which governs Nidhi Company Rules and Regulations. Reserve Bank of India directs its deposit acceptance activities [&hel...

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Posted Under: Company Law |

Procedure of Registration of Nidhi Company

About Nidhi Company In this article, we will be discussing the procedure of the Incorporation of Nidhi Company. Nidhi Company is a non-banking financial business. Nidhi Company performs lending and borrowing of money job with its members themselves do all the work. This is done for the mutual benefits of all the members of the […]...

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Posted Under: Company Law |

Nidhi Company – New way of Finance

What is Nidhi Company? Nidhi company is a company incorporated under Section 56 of Companies Act of 1956. It is a type of NBFC (Non-Banking Financial Company). The main motto of Nidhi company is to promote savings and thrift among its members. Nidhi company is most popular in South India and is more widely known […]...

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Posted Under: Company Law |

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