Central Government (CG) has amended the rules regarding incorporation of Nidhi Company. According to which a Public Company incorporated as a Nidhi with a share capital of Rs 10 lakhs, needs to first get itself declared as a Nidhi from the CG by applying in form NDH-4 with a minimum membership of 200 and NOF of Rs 20 lack within 120 days of its incorporation.
In case no decision is conveyed by the CG within 45 days of the receipt of applications filed by companies in form NDH-4, approval would be deemed as granted. This would apply for such companies which shall be incorporated after Nidhi (Amendment) Rules, 2022.
However, earlier, companies incorporated as Nidhis were required to apply to the CG in Form NDH-4 for declaration within 14 months of incorporation, if they were incorporated after the commencement of the Nidhi (Amendment) Rules w.e.f 15th August, 2019 and within 09 months of commencement of the Nidhi (Amendment) Rules w.e.f 15th August, 2019, if they were incorporated as Nidhis after 2014 but prior to 15th August, 2019.
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