Company Law : Nidhi Companies Exposed: New MCA Rules (2022 & 2024) enforce ₹20 Lakh NOF and mandatory declaration (NDH-4). Learn about major p...
Company Law : Learn how to close a Nidhi Company due to non-compliance or voluntary decision. Explore the applicable provisions, prerequisites, ...
Company Law : Explore recent rejections of Nidhi company incorporations, the discrepancies between rejection letters and rules, and seek clarity...
Company Law : Learn how to set up a Nidhi company, from name selection to obtaining a Certificate of Incorporation, along with essential complia...
Company Law : Nidhi companies have been introduced to encourage savings among the members of the Nidhi company. Nidhi companies are not difficul...
Company Law : Government cautions stakeholders as 348 companies fail to meet requisite criteria for declaration as Nidhi company under Companies...
Company Law : Investors are advised to verify the antecedents / status of a Nidhi Company especially their declaration of their status as Nidhi ...
Company Law : Sensitization of Nidhi companies towards compliance of provisions of section 406 of Companies Act, 2013 and Nidhi Rules, 2014 as a...
Company Law : In order to make regulatory regime for Nidhi Companies more effective and also to accomplish the objectives of transparency & inve...
Company Law : Madras High Court directs to furnish fresh reply regarding compliance of defects stated in order rejecting application in e-form N...
Company Law : Madras High Court held that rejection of e-Form NDH-4 application beyond time limit of 45 days is not allowable hence petitioner d...
Company Law : Kerala High Court issues directions on Nidhi Companies' status, highlighting concerns over recent amendments, financial regulation...
Company Law : Non-filing of mandatory board resolutions approving accounts led to monetary penalties. The order reiterates that approval of acco...
Company Law : Vaishali Proficient Nidhi Ltd. penalized for failing to include DINs in filings from FY2015 to FY2019. Total penalties exceed Rs. ...
Company Law : Tilak Proficient Nidhi Limited and its directors fined by the Registrar of Companies for violating Section 118 of the Companies Ac...
Company Law : Musiri Kamadhenu Nidhi Ltd and directors fined ₹14 lakh by Chennai ROC for violating Sections 117(3)(g) & 179(3)(g) of the Compa...
Company Law : Kalpakkam Nidhi Ltd fined Rs. 20,000 for non-compliance with Rule 14(6) of Companies Act. IT order mandates payment within 90 days...
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 of Companies
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.
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, 2014 A […]
“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 […]
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 deposits or provide […]
♦ 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 […]
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 […]
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 […]
ACCEPTANCE OF DEPOSIT BY THE NIDHI COMPANY- Rule-11 of the Nidhi Rules, 2014 1. Net owned fund to deposit Ratio Not More than 1:20 2. Maximum limit of Accepting deposit Not More than 20 Times of its Netowned Funds as per its latest Audited Financial Statements. 3. In case of Company registered under the previous […]
All about Nidhi Companies 1. Meaning of Nidhi Companies Nidhi Company also called the ‘Mutual benefit society’ These kind of companies mostly found in the southern part of the Country 2. Objects of the Nidhi Companies There are following objects of the Nidhi Companies- i. To lend and borrow money to the members, for the […]
