Declaration of Nidhi: NDH 4 compliance required for notification; non compliance restricts raising deposits and member loans. The Central Government shall notify a public company as a Nidhi in the Official Gazette upon receipt of Form NDH 4 with fee and satisfaction that rule requirements are met; a Nidhi incorporated after the 2019 amendment must file NDH 4 within the prescribed post incorporation period (subject to extension), and failure to comply bars filing of Form SH 7 and Form PAS 3. The 2022 amendment prohibits non complying or rejected applicants from raising deposits or giving loans to members; deposits raised in breach are treated as raised under Chapter V and subject to its requirements.
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Provisions expressly mentioned in the judgment/order text.
Declaration of Nidhi: NDH 4 compliance required for notification; non compliance restricts raising deposits and member loans.
The Central Government shall notify a public company as a Nidhi in the Official Gazette upon receipt of Form NDH 4 with fee and satisfaction that rule requirements are met; a Nidhi incorporated after the 2019 amendment must file NDH 4 within the prescribed post incorporation period (subject to extension), and failure to comply bars filing of Form SH 7 and Form PAS 3. The 2022 amendment prohibits non complying or rejected applicants from raising deposits or giving loans to members; deposits raised in breach are treated as raised under Chapter V and subject to its requirements.
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