Amendment in Nidhi rules related to Compliance 2022
- NDH-4 - Within 4?months (120 days) from the date of its incorporation.
- Requirements before filing NDH-4 :
- Nidhi must have a minimum of 200 Members and the Net Owned Fund (NOF) is not less than 20 Lakh.
- The Promoters and?Directors of the company must meet the criteria of fit and proper person?as laid down in the rules.
- Nidhi Company can commence its business only after getting approval of NDH-4 by filing form 20A.
- It is mandatory for?the government to approve NDH-4 within 45 days of filing, if the government has not provided any revert or any approval then NDH-4 will be deemed as approved.
- Form 20A needs to be filed after you get approval of NDH-4 that means before NDH-4 approval you are not allowed to commence the business of Nidhi.
- ?Filings of NDH-1 and NDH-2 are not applicable for companies incorporated after the commencement of these rules.
- ?For Existing companies before the commencement of these amendment rules, the Minimum Capital for Nidhi company is 10 lakhs, this condition needs to be fulfilled in 18 months from the date of commencement of these rules.
- A member shall not transfer more than fifty percent of his shareholding (as on the date of availing of loan or making of deposit) during the subsistence of such loan or deposit.
- ?Net Owned Fund (NOF) limit should be 20 lakh and to be fulfilled within 120 days (4?months) of Incorporation for New companies and for existing Nidhi’s companies this rule is relaxed and those companies will have the time limit of?18 months from the date of commencement of these rules to maintain this NOF limit.
- ?To Open New Nidhi?Branches - Nidhi can apply for branches to Regional Director (RD) in form NDH-2 as per the Specified rules.
- For closure of Nidhi Branches - Nidhi needs to apply to RD in NDH 2 at least 60 days before plan closure and plan needs to be approved in board meeting and needs to apply in?NDH-5 format which needs to be given in Newspaper and NDH-2 also needs to be filed in specified period mention in rules.
- ??Any place, not being a registered office or a branch, where a Nidhi carries on its operation shall be closed within a period of six months from the date of commencement of the Nidhi (Amendment) Rules,2022, and intimation shall be sent to the Registrar in this regard in Form NDH-2.
- Loan against Silver can also be disbursed to members of Nidhi.
- In case of unforeseen commitments, temporary withdrawal may be permitted with the prior approval of the Regional Director by filing the same in NDH-2.
?For More detail Visit #Corpbiz# Enterslice : https://corpbiz.io/nidhi-company-compliance
