Nidhi companies must obtain the required declaration before commencing business and declare it at incorporation. Companies incorporated as Nidhi must obtain a Central Government declaration under section 406 before commencing Nidhi business and submit a declaration of that fact at incorporation; FORM INC.20A is substituted and FORM INC-32 (SPICe+) Part-B is amended to include an express declaration that the company will not commence Nidhi business unless all required approvals, including the Central Government declaration, have been obtained.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Nidhi companies must obtain the required declaration before commencing business and declare it at incorporation.
Companies incorporated as Nidhi must obtain a Central Government declaration under section 406 before commencing Nidhi business and submit a declaration of that fact at incorporation; FORM INC.20A is substituted and FORM INC-32 (SPICe+) Part-B is amended to include an express declaration that the company will not commence Nidhi business unless all required approvals, including the Central Government declaration, have been obtained.
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