Rule 9 Net owned funds
Every Nidhi shall maintain Net Owned Funds (excluding the proceeds of any preference share capital) of not less than 1"twenty lakh" subs. for "ten lakh" vide G.S.R. 301(E), dated 19th April, 2022 (Nidhi (Amendment) Rules, 2022), w.e.f. 19th April, 2022.twenty lakh rupees or such higher amount as the Central Government may specify from time to time.
2Proviso ins. by the same G.S.R. 301(E), dated 19th April, 2022, w.e.f. 19th April, 2022.Provided that every Nidhi existing as on the date of commencement of the Nidhi (Amendment) Rules, 2022 shall comply with this requirement within a period of eighteen months from the date of such commencement.
1. "twenty lakh" subs. for "ten lakh" vide G.S.R. 301(E), dated 19th April, 2022 (Nidhi (Amendment) Rules, 2022), w.e.f. 19th April, 2022.
2. Proviso ins. by the same G.S.R. 301(E), dated 19th April, 2022, w.e.f. 19th April, 2022.