Nidhi companies must meet membership, capital and deposit limits, follow loan and prudential norms, and file prescribed NDH returns. These rules govern companies classified or functioning as Nidhis, requiring public company status with the suffix 'Nidhi Limited', minimum paid-up equity and Net Owned Funds, restrictive objects confined to mutual thrift and savings, and prohibitions on preference shares post-commencement. They set membership and financial thresholds (minimum members, NOF, unencumbered term deposits, NOF-to-deposits ratio), limit deposit acceptance and loan exposure, prescribe deposit application disclosures, require specified prudential norms for asset classification and provisioning, mandate periodic statutory filings (Forms NDH-1/2/3) and auditor certificates, and empower the Registrar and Regional Director to enforce compliance with penalties for defaults.
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Provisions expressly mentioned in the judgment/order text.
Nidhi companies must meet membership, capital and deposit limits, follow loan and prudential norms, and file prescribed NDH returns.
These rules govern companies classified or functioning as Nidhis, requiring public company status with the suffix "Nidhi Limited", minimum paid-up equity and Net Owned Funds, restrictive objects confined to mutual thrift and savings, and prohibitions on preference shares post-commencement. They set membership and financial thresholds (minimum members, NOF, unencumbered term deposits, NOF-to-deposits ratio), limit deposit acceptance and loan exposure, prescribe deposit application disclosures, require specified prudential norms for asset classification and provisioning, mandate periodic statutory filings (Forms NDH-1/2/3) and auditor certificates, and empower the Registrar and Regional Director to enforce compliance with penalties for defaults.
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