NIDHI COMPANY - Form No. NDH-4
Rs.3999/-
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Frequently Asked Quotations ?
What is Form NDH-4?
For the purpose of above mentioned declaration Ministry came up with a new e form called Form NDH-4 (Form for filing application for declaration as Nidhi Company and for updation of status by Nidhi.)
Due date of fling Form NDH-4?
Nidhi Company must file NDH-4 – within four months (120 days) of its incorporation.
Mandatory attachments of NDH-4
- Copy of the resolution of the Board of Directors in support of the proposal of the Company.
- Certificate signed by two Directors regarding the number of members as on date of application. (membership should not be less than 200)
- Certificate from the auditor of the Company to the effect that the Company has complied with the Nidhi Rules, 2014.
- In case the user selects the “Application for updating of status by Nidhi” then a copy of notification through which Company was declared Nidhi under the Companies Act is required to be attached.
What happens if NDH-4 is not approved?
The government must allow NDH-4 within 45 days of filing; if the government does not provide a rejection or approval, NDH-4 will be deemed authorized. Form 20A must be filed after receiving NDH-4 approval; therefore, you are not permitted to begin Nidhi business operations before receiving NDH-4 approval.
Consequence of Non-Filing of NDH-4
In case a company does not comply with the requirements of this rule, it shall not be allowed to file Form No. SH-7 (Notice to Registrar of any alteration of share capital) and Form PAS-3 (Return of Allotment).]
What is the rules of Nidhi Company?
The company must apply in Form NDH-4 with a minimum of 200 persons as members and Net owned fund of Rs 20 lacs within 120 days from the date of its incorporation. The company shall also attach the declaration of the fulfilment of fit and proper person criteria by all the directors and the promoters of the company.
What is net owned funds in Nidhi company?
(Net owned funds is the aggregate of paid-up capital and free reserves reduced by the accumulated and intangible assets as appearing in the last balance sheet.) The net owned funds and the deposits shall be in a ratio not exceeding 1: 20 that is Net Owned Funds: Deposits = 1:20.
What is Nidhi Limited?
Nidhi Company is a type of Non-Banking Financial Company (NBFC). It is formed to borrow and lend money to its members. It inculcates the habit of saving among its members and works on the principle of mutual benefit. These companies typically operate in the southern part of the country.
What is minimum capital requirement of Nidhi Company?
The minimum capital requirement to start a Nidhi Company is Rs. 10 lakh (Increased via Nidhi (Amendment) Rules, 2022. Since Nidhi Company is registered as a Public Limited Company and must have “Nidhi Limited” as the last words of its name.
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