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of <h1>New Rules for Nidhi Companies: Central Government Declaration Required Before Business Commencement as per Section 406 Amendments.</h1> The Companies (Incorporation) Amendment Rules, 2022, issued by the Ministry of Corporate Affairs, amend the Companies (Incorporation) Rules, 2014. Effective from their publication date, the amendments require that companies incorporated as Nidhis must obtain a declaration from the Central Government under section 406 of the Companies Act, 2013, before commencing business. This declaration must be submitted at the incorporation stage. Additionally, changes are made to FORM No.INC.20A and FORM No.INC-32 (SPICe+), mandating companies to confirm that they will not start Nidhi operations without the necessary approvals from the Central Government.
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