Nidhi Rules G.S.R. 258(E)

The Nidhi Rules, 2014

Incorporation and declaration of a Nidhi, membership and share capital, acceptance of deposits and loans against security, the dividend cap, filing of NDH returns, and the restrictions on a Nidhi's activities.

24 Rules

G.S.R. 258(E) Notification

NDH-1 to NDH-3 Return

G.S.R. 258(E) Enacted 31 March 2014 Enforced 01 April 2014 Ministry of Corporate Affairs

Made under

The Companies Act, 2013 Chapter XXVI

s. 406 s. 469

24 rules

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Preamble

NOTIFICATION

New Delhi, the 31st March, 2014

G.S.R. 258(E).—In exercise of the powers conferred under sub-section (1) of Section 406 read with subsections (1) and (2) of 469 of the Companies Act, 2013, the Central Government hereby makes the following rules, namely:—

Chapter I

Incorporation and Declaration

8 rules

R1 Short title and commencement

Rule 1 of the Nidhi Rules: Short title and commencement

R2 Application

Rule 2 of the Nidhi Rules: Application

R3 Definitions

Rule 3 of the Nidhi Rules: Definitions

R3A Declaration of Nidhis

Rule 3A of the Nidhi Rules: Declaration of Nidhis

R3B Declaration as Nidhi or Mutual Benefit Society under sub-clause (b) of clause (1) of section 406

Rule 3B of the Nidhi Rules: Declaration as Nidhi or Mutual Benefit Society under sub-clause (b) of clause (1) of section 406

R4 Incorporation and incidental matters

Rule 4 of the Nidhi Rules: Incorporation and incidental matters

R5 Requirements for minimum number of members, net owned fund etc

Rule 5 of the Nidhi Rules: Requirements for minimum number of members, net owned fund etc

R6 General restrictions or prohibitions

Rule 6 of the Nidhi Rules: General restrictions or prohibitions

Chapter II

Membership, Capital and General Restrictions

6 rules

R7 Share capital and allotment

Rule 7 of the Nidhi Rules: Share capital and allotment

R8 Membership

Rule 8 of the Nidhi Rules: Membership

R9 Net owned funds

Rule 9 of the Nidhi Rules: Net owned funds

R10 Branches

Rule 10 of the Nidhi Rules: Branches

R11 Acceptance of deposits by Nidhis

Rule 11 of the Nidhi Rules: Acceptance of deposits by Nidhis

R12 Application form for deposit

Rule 12 of the Nidhi Rules: Application form for deposit

Chapter III

Deposits, Loans and Dividend

6 rules

R13 Deposits

Rule 13 of the Nidhi Rules: Deposits

R14 Un-encumbered term deposits

Rule 14 of the Nidhi Rules: Un-encumbered term deposits

R15 Loans

Rule 15 of the Nidhi Rules: Loans

R16 Rate of interest

Rule 16 of the Nidhi Rules: Rate of interest

R17 Rules relating to Directors

Rule 17 of the Nidhi Rules: Rules relating to Directors

R18 Dividend

Rule 18 of the Nidhi Rules: Dividend

Chapter IV

Returns, Compliance and Penalties

8 rules

R19 Auditor

Rule 19 of the Nidhi Rules: Auditor

R20 Prudential norms

Rule 20 of the Nidhi Rules: Prudential norms

R21 Filing of half yearly return

Rule 21 of the Nidhi Rules: Filing of half yearly return

R22 Auditor’s certificate

Rule 22 of the Nidhi Rules: Auditor’s certificate

R23 Power to enforce compliance

Rule 23 of the Nidhi Rules: Power to enforce compliance

R23A Compliance with rule 3A by certain Nidhis

Rule 23A of the Nidhi Rules: Compliance with rule 3A by certain Nidhis

R23B Companies declared as Nidhis under previous company law to file Form NDH-4

Rule 23B of the Nidhi Rules: Companies declared as Nidhis under previous company law to file Form NDH-4

R24 Penalty for non-compliance

Rule 24 of the Nidhi Rules: Penalty for non-compliance