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of <h1>Nidhi Companies Need Profit Record & Approvals to Open or Close Branches per Amendment Rules 2022</h1> A Nidhi can open branches if it has earned net profits after tax for the last three financial years. It may open up to three branches within a district, but requires Regional Director approval for more than three branches or any outside the district. Branches cannot be opened outside the state of the registered office. Financial statements and annual returns must be filed before opening branches. To close a branch, Nidhi needs Board approval, Regional Director permission, and must notify the public and Registrar. Non-registered office operations must cease within six months of the Nidhi (Amendment) Rules, 2022.
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