Net owned funds

Net owned funds .—Every Nidhi shall maintain Net Owned Funds (excluding the proceeds of any preference share capital) of not less than twenty lakh rupees ten lakh rupees. or such higher amount as the Central Government may specify from time to time.

Proviso

Provided that every Nidhi existing as on the date of commencement of the Nidhi (Amendment) Rules,2022 shall comply with this requirement within a period of eighteen months from the date of such commencement.

Notes, amendments & references (2)

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

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