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of <h1>New Nidhi Rules: Public Companies Must Apply with Form NDH-4 in 120 Days, Meet Member and Fund Criteria</h1> Under the Nidhi (Amendment) Rules, 2022, a public company seeking Nidhi status must apply using Form NDH-4 within 120 days of incorporation, provided it has at least 200 members and Net Owned Funds of at least 20 lakh rupees. The application must include a declaration of the promoters' and directors' fit and proper status, considering integrity, reputation, and absence of specific disqualifications like pending criminal cases or insolvency. The Central Government reviews the application within 45 days, and upon approval, the company is declared a Nidhi. Non-compliance with these rules restricts certain corporate filings. These rules do not apply to companies incorporated before the amendment.
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