March 31, 2023
  • The Government has now made it mandatory for Nidhi companies to inform the authority about change in control of the organisation. This is part of additional disclosers required by these companies. Other information required includes details of collection centres and profit details.
  • These changes have been incorporated in the revised forms NDH-1 (return of statutory compliances), NDH-2 (application to Regional Director and intimation to the Registrar), NDH-3 (return for the half year ended) and NDH-4 (form for filing application for declaration as Nidhi company and for up-dation of status by Nidhis).

About Nidhi Companies

  • Nidhi Company is a type of Non-Banking Finance Company (NBFC) formed with primary object of inculcating saving habits among its members and works on principle of mutual benefit.
  • Registered under Companies Act, they are regulated by Ministry of Corporate Affairs for operational matters.
  • They don’t require a license from RBI but RBI can issue directions to them on deposit-taking activities.
  • They are controlled by Nidhi Rules, 2014.
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