Nidhi company Compliances

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COMPLIANCES REQUIRED AFTER INCORPORATION OF NIDHI ?

As per the Nidhi Rules 2014 following are the compliances required to be maintained by Nidhi Company other than mentioned in the Companies Act, 2013.

  1. NDH-1

  2. NDH-2

  3. NDH-3

  4. NDH-4

WHAT IS NDH-1

Ndh-1 is applicable on the Nidhi Company regarding compliance of the Rule 5 of the Nidhi Rules, 2014

WHAT IS RULE 5 OF NIDHI RULES, 2014

Every Nidhi shall, within a period of one year from the date of its incorporation, ensure that it has-

(a) Not less than two hundred members;

(b) Net Owned Funds(Paid up capital + free reserve) of ten lakh rupees or more;

(c) Unencumbered term deposits of not less than ten per cent. of the outstanding deposits as specified in rule 14; and

(d) Ratio of Net Owned Funds to deposits of not more than 1:20.

WHEN TO FILE NDH-1 

Within ninety days from the close of the first financial year after its incorporation and where applicable, the second financial year, Nidhi shall file a return of statutory compliances in NDH-1 along with such fee as provided in Companies (Registration Offices and Fees) Rules, 2014 with the Registrar duly certified by a company secretary in practice or a chartered accountant in practice or a cost accountant in practice.

Note: if a company incorporated after January then the period of 1 year will be counted from the end of next financial year. 

WHAT IS NDH-2 AND WHAT IS THE DUE DATE OF FILING OF THE SAME ?

If a Nidhi is not complying with clauses (a) or (d) of above mentioned point, it shall within thirty days from the close of the first financial year, apply to the Regional Director in 4Form NDH-2] along with fee specified in Companies (Registration Offices and Fees) Rules, 2014 for extension of time and the Regional Director may consider the application and pass orders within thirty days of receipt of the application.

[Provided that the Regional Director may extend the period upto one year from the date of receipt of application.]

WHAT IS NDH-3 FORM  ?

Every Nidhi  company covered under rule 2 shall file half yearly return with the Registrar in [Form NDH-3] along with such fee as provided in Companies (Registration Offices and Fees) Rules, 2014 within thirty days from the conclusion of each half year duly certified by a company secretary in practice or chartered accountant in practice or cost accountant in practice.

WHAT IS THE DUE DATE OF NDH-3

NDH-3 is a half yearly return  needs to be filed within 30 days after the end for each half year containing the details of members, total deposit, loans etc.

WHAT IS NDH-4

Every company referred to in clause (b) of rule 2 and every Nidhi incorporated under the Act, before the commencement of Nidhi (Amendment) Rules, 2019, shall also get itself declared as such in accordance with rule 3A within a period of one year from the date of its incorporation or within a period of nine months (earlier it was six months amended in the notification dated 14th February 2020) from the date of commencement of Nidhi (Amendment) Rules, 2019, whichever is later:

Provided that 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).]

COMPLIANCE CALENDAR FOR NIDHI COMPANY

S.NO

PARTICULARS

INFORMATION

DUE DATE

1.

NDH-1(ONE TIME RETURN
)

REQUIREMENT TO BE FULFILLED AS RULE NO 5 

ON OR BEFORE 30TH JUNE 

2.

NDH-2(EXTENTION OF TIME)

IF REQUIREMNT NOT FULFILLED AS PER RULE 5

ON OR BEFORE 30TH APRIL

3.

NDH-3 (HALF YERLY RETURN)

FOR PERIOD ENDED ON 30TH SEPTEMBER AND 31ST MARCH

ON OR BEFORE 30TH OCTOBER AND 30TH APRIL

4.

NDH-4(DECLARATION AS A NIDHI) FOR NEWLY INCORPORATED COMPANY

WITHIN 60 DAYS AFTER EXPIRY OF 1 YEAR FROM INCORPORATION

 

5

NDH-4 FOR EXISTING NIDHI COMPANY

WITHIN A PERIOD OF ONE YEAR FROM ITS DATE OF INCORPORATION OR WITHIN A PERIOD OF NINE MONTHS FROM THE DATE OF COMMENCEMENT OF NIDHI RULES 2019, WHICHEVER IS LATER

 

 

 

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