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NIDHI Company Rules Amendment

NIDHI Company Second Amendment Rules, 2020 Effective From 14th February 2020

NIDHI Second Amendment Rules

There is this amendment by The Ministry of Corporate Affairs (MCA) issued on 14th day of February, 2020 which is yet to be notified to amend the Nidhi Rules, 2014 by notifying Nidhi (Second Amendment) Rules, 2020.

Companies referred to in clause rule 2(b) (i.e. Company which has either been acknowledged as a Mutual Benefit Society or Nidhi company) or every company which are working in the positions of Mutual Benefit Society or as Nidhi company but either is waiting for notification to be declared or has not applied to be a Nidhi or Mutual Benefit Society and every company which is registered as Nidhi before the beginning of Nidhi (Amendment) Rules, 2019 shall get itself declared as mentioned in Rule 3A "within a period of One year from the incorporation date or within a period of Nine months from the date of beginning of Nidhi Amendment Rules 2019, whichever is later."

NIDHI Company Second Amendment Rules

Provided If the above mentioned requirements for Nidhi Company is not complied within the stipulated Time period then such company or companies shall not be allowed to file Form SH-7 ( For alteration of share capital) and Form PAS-3 (For Return of Allotment) before this mandatory compliance.

These Rules shall come into force on the date of their publication in the Official Gazette that is February 14, 2020.

 

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