Power to enforce compliance

Power to enforce compliance .—(1) For the purposes of enforcing compliance with these rules, the Registrar of companies may call for such information or returns from Nidhi as he deems necessary and may engage the services of chartered accountants, company secretaries in practice, cost accountants, or any firm thereof from time to time for

assisting him in the discharge of his duties.

(2)

In respect of any Nidhi which has violated these rules or has failed to function in terms of the Memorandum and Articles of Association, the Central Government concerned Regional Director may appoint a Special Officer to take over the management of Nidhi and such Special Officer shall function as per the guidelines given by Central Government such Regional Director :

Proviso

Provided that an opportunity of being heard shall be given to the concerned Nidhi by the Central Government Regional Director before appointing any Special Officer.

23A. Compliance with rule 3A by certain Nidhis:- Every company referred to in clause (b) of rule 2 and every Nidhi incorporated under the Act, before the commencement of Nidhi (Amendment) Rules, 2019, shall also get itself declared as such in accordance with rule 3A within a period of one year from the date of its incorporation or within a period of nine months six months from the date of commencement of Nidhi (Amendment) Rules, 2019, whichever is later:

Proviso

Provided that in case a company does not comply with the requirements of this rule, it shall not be allowed to file Form No. SH-7 (Notice to Registrar of any alteration of share capital) and Form PAS- 3 (Return of Allotment).

Proviso

Provided further that no company which has not complied with the requirements of this rule, or fails to comply with such requirement on or after the date of commencement of the Nidhi (Amendment) Rules,2022, or in case the application submitted by the company in Form NDH-4 is or has been rejected by the Central Government, shall raise any deposit from its members or provide any loan to its members under the provisions of these rules from the date of such non-compliance, or the date of commencement of the said rules, or the date of rejection of the application in Form NDH-4, whichever is later.

Proviso

Provided also that any deposit raised by a company after the date of non-compliance, or the date of commencement of the above said rules, or the date of rejection of the application in Form NDH-4, whichever is later, as referred to in the second proviso shall be deemed to have been raised in pursuance of Chapter V of the Act, and shall be subject to all the requirements under that Chapter, or under any other provisions of the Act or the rules made thereunder, as the case may be.

Notes, amendments & references (13)

23B. Companies declared as Nidhis under previous company law to file Form NDH-4:- Every company referred in clause (a) of rule 2 shall file Form NDH-4 alongwith fees as per the Companies (Registration Offices and Fees) Rules, 2014 for updating its status:

Provided that no fees shall be charged under this rule for filing Form NDH-4, in case it is filed within nine months six months of the commencement of Nidhi (Amendment) Rules, 2019:

Provided further that, in case a company does not comply with the requirements of this rule, it shall not be allowed to file Form No. SH-7 (Notice to Registrar of any alteration of share capital) and Form PAS-3 (Return of Allotment).

Substituted vide the Nidhi (Amendment) Rules, 2019 dated 01.07.2019 w.e.f., 15.08.2019. To view the Notification, Click Here .

23A. Compliance with rule 3A by certain Nidhis:- Inserted vide the Nidhi (Amendment) Rules, 2019 dated 01.07.2019 w.e.f., 15.08.2019. To view the Notification, Click Here .

Substituted vide Nidhi (Second Amendment) Rules, 2020 dated 14.02.2020. To view the notification, Click Here.

Inserted vide the Nidhi (Amendment) Rules, 2022 dated 19.04.2022. To view the Notification, Click Here .

Substituted vide the Nidhi (Amendment) Rules, 2023 notification dated 20.01.2023. To view the notification, Click Here . To view the return, Click Here .

23B. Companies declared as Nidhis under previous company law to file Form NDH-4:- Inserted vide the Nidhi (Amendment) Rules, 2019 dated 01.07.2019 w.e.f., 15.08.2019. To view the Notification, Click Here .

To view the Return, Click Here .

Substituted vide Corrigendum notification by MCA date 02.02.2020 read with Nidhi (Second Amendment) Rules, 2020 dated 14.02.2020.

To view the notification, Click Here.

To view the corrigendum, Click Here.