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Status Updation and declaration Compliance by NIDHI Companies

Status Updation and declaration Compliance by NIDHI Companies

Status Updation And Declaration Compliance By Nidhi Companies (E-form NDH-4)Nidhi Company Updation

Ministry of Corporate Affairs has in order to make regulatory framework effective for the Nidhi Companies and to bring transparency so the general public can invest in genuine and compliant companies only has sensitize the Nidhi companies towards the compliance of updation of their status/ declaration as Nidhi Company in Form NDH-4.

The object of the Nidhi Company is to develop the habit of thrift and saving amongst its members, receiving deposits from, and lending to, its members only, for their mutual benefit.

The updation of their status as Nidhi Company in Form NDH-4 has to be complied by:

  1. Nidhi companies which was incorporated before Nidhi Amendment Rules, 2019 i.e. 15.08.2019 has to file e-form NDH-4 within a period of one year from the date of  incorporation or  9 months of revised rules i.e. 15.08.2019 whichever is later;
  2. Nidhi companies incorporated on or after revised rules i.e. 15.08.2019, then they has to file form on mandatory basis within a time period of 60 days of expiry of one year from incorporation date or the period extended by concerned regional director.
  3. If not file the desired Eform NDH-4, then the company cannot apply for alteration of share capital in Form SH-7 and return of allotment in Form PAS-3.
  4. Nidhi company and every single officer who is connected with the company and in default will be punishable with fine on initially basis which may extend to five thousand rupees.

The Neusource Startup Mind is the finest business startup consultant that offers various services of compliances along with the registration like Business Registration, Proprietorship Firm compliances, Partnership Firm compliances, LLP compliances, ISO RegistrationCompany compliances, GST compliances etc.

22 Mar

Prem Singh
Prem

Right guidance is all we need for a healthy business. Neusource is here to show you the right way which helps you to grow with your business. If you have this wish to build up your startups then neusource is the only choice for your business

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