[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II,
SECTION 3, SUB-SECTION (i)]
Government of India
Ministry of Corporate Affairs
Notification
New Delhi, dated ___________
G.S.R. (E).- In exercise of the powers conferred under sub-section (1) of
section 406 read with sub-sections (1) and (2) of 469 of the Companies Act,
2013, the Central Government hereby makes the following rules, namely:-
1. Short title and commencement. - (1) These Rules may be called
Nidhi Rules, 2014.
(2) They shall come into force on the date of their publication in the Official
Gazette.
2. Application.- These rules shall apply to,-
(a) every company which had been declared as a Nidhi or Mutual
Benefit Society under sub-section (1) of section 620A of the Companies
Act, 1956;
(b) every company functioning on the lines of a Nidhi company or
Mutual Benefit Society but has either not applied for or has applied for
and is awaiting notification to be a Nidhi or Mutual Benefit Society under
sub-section (1) of section 620A of the Companies Act, 1956; and
(c) every company incorporated as a Nidhi pursuant to the provisions of
section 406 of the Act.
3. Definitions.- (1) In these rules, unless the context otherwise requires,-
(a) "Act" means the Companies Act, 2013 (18 of 2013);
(b) "Doubtful Asset" means a borrowal account which has remained a non-
performing asset for more than two years but less than three years;
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(c) "Loss Asset" means a borrowal account which has remained a non-
performing asset for more than three years or where in the opinion of the
Board, a shortfall in the recovery of the loan account is expected because
the documents executed may become invalid if subjected to legal process or
for any other reason;
(d) "Net Owned Funds" means the aggregate of paid up equity share capital
and free reserves as reduced by accumulated losses and intangible assets
appearing in the last audited balance sheet:
Provided that the amount representing the proceeds of issue of
preference shares shall not be included for calculating Net Owned Funds.
(e) "Non-Performing Asset" means a borrowal account in respect of which
interest income or instalment of loan towards repayment of principal amount
has remained unrealised for twelve months;
(f) "Standard Asset" means the asset in respect of which no default in
repayment of principal or payment of interest has occurred or is perceived
and which has neither shown signs of any problem relating to repayment of
principal sum or interest nor does it carry more than normal risk attached to
the business;
(g) "Sub-Standard Asset" means a borrowal account which is a non
performing asset:
Provided that reschedulement or renegotiation or rephasement of the
loan instalment or interest payment shall not change the classification of an
asset unless the borrowal account has satisfactorily performed for at least
twelve months after such reschedulement or renegotiation or rephasement.
(2) Words and expressions used herein, but not defined in these rules and
defined in the Act or in the Companies (Specification of definitions details)
Rules, 2014 shall have the same meaning as assigned to them in the Act or
in the said Rules.
4. Incorporation and incidental matters.- (1) A Nidhi to be incorporated
under the Act shall be a public company and shall have a minimum paid up
equity share capital of five lakh rupees.
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(2) On and after the commencement of the Act, no Nidhi shall issue
preference shares.
(3) If preference shares had been issued by a Nidhi before the
commencement of this Act, such preference shares shall be redeemed in
accordance with the terms of issue of such shares.
(4) Except as provided under the proviso to sub-rule (e) to rule 6, no Nidhi
shall have any object in its Memorandum of Association other than the
object of cultivating the habit of thrift and savings amongst its members,
receiving deposits from, and lending to, its members only, for their mutual
benefit.
(5) Every Company incorporated as a "Nidhi" shall have the last words `Nidhi
Limited' as part of its name.
5. Requirements for minimum number of members, net owned fund
etc.- (1) Every Nidhi shall, within a period of one year from the
commencement of these rules, ensure that it has-
(a) not less than two hundred members;
(b) Net Owned Funds of ten lakh rupees or more;
(c) unencumbered term deposits of not less than ten per cent. of
the outstanding deposits as specified in rule 14; and
(d) ratio of Net Owned Funds to deposits of not more than 1:20.
(2) Within ninety days from the close of the first financial year after its
incorporation and where applicable, the second financial year, Nidhi shall file
a return of statutory compliances in Form NDH-1 along with such fee as
provided in Companies (Registration Offices and Fees) Rules, 2014 with the
Registrar duly certified by a company secretary in practice or a chartered
accountant in practice or a cost accountant in practice.
(3) If a Nidhi is not complying with clauses (a) or (d) of sub-rule (1) above,
it shall within thirty days from the close of the first financial year, apply to
the Regional Director in Form NDH-2 along with fee specified in Companies
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(Registration Offices and Fees) Rules, 2014 for extension of time and the
Regional Director may consider the application and pass orders within thirty
days of receipt of the application.
Explanation.- For the purpose of this rule "Regional Director" means the
person appointed by the Central Government in the Ministry of Corporate
Affairs as a Regional Director;
(4) If the failure to comply with sub-rule (1) of this rule extends beyond the
second financial year, Nidhi shall not accept any further deposits from the
commencement of the second financial year till it complies with the
provisions contained in sub-rule (1), besides being liable for penal
consequences as provided in the Act.
6. General restrictions or prohibitions.- No Nidhi shall-
(a) carry on the business of chit fund, hire purchase finance, leasing finance,
insurance or acquisition of securities issued by any body corporate;
(b) issue preference shares, debentures or any other debt instrument by any
name or in any form whatsoever;
(c) open any current account with its members;
(d) acquire another company by purchase of securities or control the
composition of the Board of Directors of any other company in any manner
whatsoever or enter into any arrangement for the change of its
management, unless it has passed a special resolution in its general meeting
and also obtained the previous approval of the Regional Director having
jurisdiction over such Nidhi;
Explanation.- For the purposes of this sub-rule, "control" shall have the
same meaning assigned to it in clause (27) of section 2 of the Act;
(e) carry on any business other than the business of borrowing or
lending in its own name:
Provided that Nidhis which have adhered to all the provisions of these
rules may provide locker facilities on rent to its members subject to the
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rental income from such facilities not exceeding twenty per cent. of the
gross income of the Nidhi at any point of time during a financial year.
(f) accept deposits from or lend to any person, other than its members;
(g) pledge any of the assets lodged by its members as security;
(h) take deposits from or lend money to any body corporate;
(i) enter into any partnership arrangement in its borrowing or lending
activities;
(j) issue or cause to be issued any advertisement in any form for soliciting
deposit:
Provided that private circulation of the details of fixed deposit schemes
among the members of the Nidhi carrying the words "for private circulation
to members only" shall not be considered to be an advertisement for
soliciting deposits.
(k) pay any brokerage or incentive for mobilising deposits from members or
for deployment of funds or for granting loans.
7. Share capital and allotment.- (1) Every Nidhi shall issue equity shares
of the nominal value of not less than ten rupees each:
Provided that this requirement shall not apply to a company referred to
in sub-rules (a) and (b) of rule 2.
(2) No service charge shall be levied for issue of shares.
(3) Every Nidhi shall allot to each deposit holder at least a minimum of ten
equity shares or shares equivalent to one hundred rupees:
Provided that a savings account holder and a recurring deposit account
holder shall hold at least one equity share of rupees ten.
8. Membership.- (1) A Nidhi shall not admit a body corporate or trust as
a member.
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(2) Except as otherwise permitted under these rules, every Nidhi shall
ensure that its membership is not reduced to less than two hundred
members at any time.
(3) A minor shall not be admitted as a member of Nidhi:
Provided that deposits may be accepted in the name of a minor, if they are
made by the natural or legal guardian who is a member of Nidhi.
9. Net owned funds.- Every Nidhi shall maintain Net Owned Funds
(excluding the proceeds of any preference share capital) of not less than ten
lakh rupees or such higher amount as the Central Government may specify
from time to time.
10. Branches.- (1) A Nidhi may open branches, only if it has earned net
profits after tax continuously during the preceding three financial years.
(2) Subject to the provisions contained in sub-rule (1), a Nidhi may open up
to three branches within the district.
(3) If a Nidhi proposes to open more than three branches within the district
or any branch outside the district, it shall obtain the prior permission of the
Regional Director and an intimation is to be given to the Registrar about
opening of every branch within thirty days of such opening.
(4) No Nidhi shall open branches or collection centres or offices or deposit
centres, or by whatever name called outside the State where its registered
office is situated.
(5) No Nidhi shall open branches or collection centres or offices or deposit
centres, or by whatever name called unless financial statement and annual
return (up to date) are filed with the Registrar.
(6) A Nidhi shall not close any branch unless it-
(a) publishes an advertisement in a newspaper in vernacular language in the
place where it carries on business at least thirty days prior to such closure,
informing the public about such closure;
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(b) fixes a copy of such advertisement or a notice informing such closure of
the branch on the notice board of Nidhi for a period of at least thirty days
from the date on which advertisement was published under clause (a) ; and
(c) gives an intimation to the Registrar within thirty days of such closure.
11. Acceptance of deposits by Nidhis.- (1) A Nidhi shall not accept
deposits exceeding twenty times of its Net Owned Funds (NOF) as per its
last audited financial statements.
(2) In the case of companies covered under clauses (a) and (b) of rule 2
and existing on or before 26th July, 2001 and which have accepted deposits
in excess of the aforesaid limits, the same shall be restored to the prescribed
limit by increasing the Net Owned Funds position or alternatively by reducing
the deposit according to the table given below:
TABLE
Ratio of Net Owned Funds to Date by which the company has
Deposits (as on 31.3. 2013) to achieve prescribed ceiling of
1:20
a) More than 1:20 but upto By 31.3. 2015
1:35
b) More than 1:35 but upto 1:45 By 31.3. 2016
c) More than 1:45 By 31.3. 2017
(3) The companies which are covered under the Table in sub-rule (2)
above shall not accept fresh deposits or renew existing deposits if such
acceptance or renewal leads to violation of the prescribed ratio.
(4) The ratio specified in sub-rule (2) above shall also apply to
incremental deposits.
12. Application form for deposit.- (1) Every application form for
placing a deposit with a Nidhi shall contain the following particulars,
namely:-
(a) Name of Nidhi;
(b) Date of incorporation of Nidhi;
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(c) The business carried on by Nidhi with details of branches, if
any;
(d) Brief particulars of the management of Nidhi (name,
addresses and occupation of the directors, including DIN);
(e) Net profits of Nidhi before and after making provision for tax
for the preceding three financial years;
(f) Dividend declared by Nidhi during the preceding three
financial years;
(g) Mode of repayment of the deposit;
(h) Maturity period of the deposit;
(i) Interest payable on the deposit;
(j) The rate of interest payable to the depositor in case the
depositor withdraws the deposit prematurely;
(k) The terms and conditions subject to which the deposit may be
accepted or renewed;
(l) A summary of the financials of the company as per the latest
two audited financial statements as given below:
(i) Net Owned Funds
(ii) Deposits accepted
(iii) Deposits repaid
(iv) Deposits claimed but remaining unpaid
(v) Loans disbursed against-
(a) immovable property;
(b) deposits; and
(c) gold and jewellery
(vi) Profit before tax
(vii) Provision for tax
(viii) Profit after tax
(ix) Dividend per share
(m) any other special features or terms and conditions subject to
which the deposit is accepted or renewed.
(2) The application form shall also contain the following statements,
namely:-
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(a) in case of non- payment of the deposit or part thereof as per the
terms and conditions of such deposit, the depositor may approach the
Registrar of companies having jurisdiction over Nidhi;
(b) in case of any deficiency of Nidhi in servicing its depositors, the
depositor may approach the National Consumers Disputes Redressal
Forum, the State Consumers Disputes Redressal Forum or District
Consumers Disputes Redressal Forum, as the case may be, for
redressal of his relief;
(c) a declaration by the Board of Directors to the effect that the
financial position of Nidhi as disclosed and the representations made in
the application form are true and correct and that Nidhi has complied
with all the applicable rules;
(d) a statement to the effect that the Central Government does not
undertake any responsibility for the financial soundness of Nidhi or for
the correctness of any of the statement or the representations made
or opinions expressed by Nidhi;
(e) the deposits accepted by Nidhi are not insured and the repayment
of deposits is not guaranteed by either the Central Government or the
Reserve Bank of India; and
(f) a verification clause by the depositor stating that he had read and
understood the financial and other particulars furnished and
representations made by Nidhi in his application form and after careful
consideration he is making the deposit with Nidhi at his own risk and
volition.
(3) Every Nidhi shall obtain proper introduction of new
depositors before opening their accounts or accepting
their deposits and keep on its record the evidence on which
it has relied upon for the purpose of such introduction.
(4) For the purposes of introduction of depositors, a Nidhi shall obtain
documentary evidence of the depositor in the form of proof of identity and
address as under:
(a) Proof of Identity (any one of the following)
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(i) Passport
(ii) Unique Identification Number
(iii) Income-tax PAN card
(iv) Elector Photo Identity Card
(v) Driving licence
(vi) Ration card
(b) Proof of address (any one of the following)
(i) Passport
(ii) Unique Identification Number
(iii) Elector Photo Identity Card
(iv) Driving licence
(v) Ration card
(vi) Telephone bill
(vii) Bank account statement
(viii) Electricity bill
(documents referred to serial numbers (vi), (vii) and (viii) above shall not be
more than two months old)
13. Deposits.- (1) The fixed deposits shall be accepted for a minimum
period of six months and a maximum period of sixty months.
(2) Recurring deposits shall be accepted for a minimum period of twelve
months and a maximum period of sixty months.
(3) In case of recurring deposits relating to mortgage loans, the maximum
period of recurring deposits shall correspond to the repayment period of
such loans granted by Nidhi.
(4) The maximum balance in a savings deposit account at any given time
qualifying for interest shall not exceed one lakh rupees at any point of time
and the rate of interest shall not exceed two per cent. above the rate of
interest payable on savings bank account by nationalised banks.
(5) A Nidhi may offer interest on fixed and recurring deposits at a rate not
exceeding the maximum rate of interest prescribed by the Reserve Bank of
India which the Non-Banking Financial Companies can pay on their public
deposits.
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(6) A fixed deposit account or a recurring deposit account shall be foreclosed
by the depositor subject to the following conditions, namely:-
(a) a Nidhi shall not repay any deposit within a period of three months
from the date of its acceptance;
(b) where at the request of the depositor, a Nidhi repays any deposit
after a period of three months, the depositor shall not be entitled to any
interest up to six months from the date of deposit;
(c) where at the request of the depositor, a Nidhi makes repayment of
a deposit before the expiry of the period for which such deposit was
accepted by Nidhi, the rate of interest payable by Nidhi on such deposit
shall be reduced by two per cent. from the rate which Nidhi would have
ordinarily paid, had the deposit been accepted for the period for which
such deposit had run:
Provided that in the event of death of a depositor, the deposit may
be repaid prematurely to the surviving depositor or depositors in the
case of joint holding with survivor clause, or to the nominee or to legal
heir with interest up to the date of repayment at the rate which the
company would have ordinarily paid, had such deposit been accepted
for the period for which such deposit had run.
14. Un-encumbered term deposits.- Every Nidhi shall invest and
continue to keep invested, in unencumbered term deposits with a scheduled
commercial bank (other than a co-operative bank or a regional rural bank),
or post office deposits in its own name an amount which shall not be less
than ten per cent. of the deposits outstanding at the close of business on the
last working day of the second preceding month:
Provided that in cases of unforeseen commitments, temporary
withdrawal may be permitted with the prior approval of the Regional Director
for the purpose of repayment to depositors, subject to such conditions and
time limit which may be specified by the Regional Director to ensure
restoration of the prescribed limit of ten per cent.
15. Loans.- (1) A Nidhi shall provide loans only to its members.
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(2) The loans given by a Nidhi to a member shall be subject to the following
limits, namely:-
(a) two lakh rupees, where the total amount of deposits of
such Nidhi from its members is less than two crore rupees;
(b) seven lakh fifty thousand rupees, where the total amount
of deposits of such Nidhi from its members is more than two
crore rupees but less than twenty crore rupees;
(c) twelve lakh rupees, where the total amount of deposits of
such Nidhi from its members is more than twenty crore
rupees but less than fifty crore rupees; and
(d) fifteen lakh rupees, where the total amount of deposits of
such Nidhi from its members is more than fifty crore rupees:
Provided that where a Nidhi has not made profits
continuously in the three preceding financial years, it shall
not make any fresh loans exceeding fifty per cent. of the
maximum amounts of loans specified in clauses (a), (b), (c)
or (d).
Provided further that a member shall not be eligible for
any further loan if he has borrowed any earlier loan from the
Nidhi and has defaulted in repayment of such loan.
(3) For the purposes of sub-rule (2), the amount of deposits shall be
calculated on the basis of the last audited annual financial statements.
(4) A Nidhi shall give loans to its members only against the following
securities, namely:-
(a) gold, silver and jewellery:
Provided that the repayment period of such loan shall not exceed
one year.
(b) immovable property:
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Provided that the total loans against immovable property
[excluding mortgage loans granted on the security of property by
registered mortgage, being a registered mortgage under section 69 of
the Transfer of Property Act, 1882 (IV of 1882)] shall not exceed fifty
per cent. of the overall loan outstanding on the date of approval by the
board, the individual loan shall not exceed fifty per cent. of the value of
property offered as security and the period of repayment of such loan
shall not exceed seven years.
(c) fixed deposit receipts, National Savings Certificates, other
Government Securities and insurance policies:
Provided that such securities duly discharged shall be pledged with
Nidhi and the maturity date of such securities shall not fall beyond the
loan period or one year whichever is earlier:
Provided further that in the case of loan against fixed deposits, the
period of loan shall not exceed the unexpired period of the fixed
deposits.
16. Rate of interest.- The rate of interest to be charged on any loan
given by a Nidhi shall not exceed seven and half per cent. above the highest
rate of interest offered on deposits by Nidhi and shall be calculated on
reducing balance method:
Provided that Nidhi shall charge the same rate of interest on the
borrowers in respect of the same class of loans and the rates of interest of
all classes of loans shall be prominently displayed on the notice board at the
registered office and each branch office of Nidhi.
17. Rules relating to Directors. (1) The Director shall be a member of
Nidhi.
(2) The Director of a Nidhi shall hold office for a term up to ten consecutive
years on the Board of Nidhi.
(3) The Director shall be eligible for re-appointment only after the
expiration of two years of ceasing to be a Director.
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(4) Where the tenure of any Director in any case had already been extended
by the Central Government, it shall terminate on expiry of such extended
tenure.
(5) The person to be appointed as a Director shall comply with the
requirements of sub-section (4) of section 152 of the Act and shall not have
been disqualified from appointment as provided in section 164 of the Act.
18. Dividend.- A Nidhi shall not declare dividend exceeding twenty five
per cent. or such higher amount as may be specifically approved by the
Regional Director for reasons to be recorded in writing and further subject to
the following conditions, namely:-
(a) an equal amount is transferred to General Reserve;
(b) there has been no default in repayment of matured deposits and
interest; and
(c) it has complied with all the rules as applicable to Nidhis.
19. Auditor:- (1) No Nidhi shall appoint or re-appoint an individual as
auditor for more than one term of five consecutive years.
(2) No Nidhi shall appoint or re-appoint an audit firm as auditor for more
than two terms of five consecutive years;
Provided that an auditor (whether an individual or an audit firm) shall
be eligible for subsequent appointment after the expiration of two years
from the completion of his or its term.
Explanation: For the purposes of this proviso:
(i) in case of an auditor (whether an individual or audit firm), the period for
which he or it has been holding office as auditor prior to the commencement
of these rules shall be taken into account in calculating the period of five
consecutive years or ten consecutive years, as the case may be;
(ii) appointment includes re-appointment.
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20. Prudential norms.- (1) Every Nidhi shall adhere to the prudential
norms for revenue recognition and classification of assets in respect of
mortgage loans or jewel loans as contained hereunder.
(2) Income including interest or any other charges on non-performing
assets shall be recognised only when it is actually realised and any such
income recognised before the asset became non-performing and which
remains unrealised in a year shall be reversed in the profit and loss account
of the immediately succeeding year.
(3) (a) In respect of mortgage loans, the classification of assets and the
provisioning required shall be as under:
NATURE OF ASSET PROVISION REQUIRED
Standard Asset No provision
Sub-standard Asset 10% of the aggregate
outstanding amount
Doubtful Asset 25% of the aggregate
outstanding amount
Loss Asset 100% of the aggregate
outstanding amount
Provided that a Nidhi may make provision for exceeding the percentage
specific herein.
(b) The estimated realisable value of the collateral security to which a Nidhi
has valid recourse may be reduced from the aggregate outstanding amount,
if the proceedings for the sale of the mortgaged property have been initiated
in a court of law within the previous two years of the interest, income or
instalment remaining unrealised.
(4) In case of companies which were incorporated on or before 26-07-
2001, such companies shall make provisions in respect of loans disbursed
and outstanding as on 31-03-2002 for income reversal and non-performing
assets as per table given below:
For the year ended Extent of provision
31-03- 2015 Un-provided balance on
31-03- 2016 equal basis over the three
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31-03- 2017 years as specified in the
preceding column.
(5) (a) The Notes on the financial statements of a year shall
disclose-
(i) the total amount of provisions, if any, to be made on account of
income reversal and non-performing assets remaining unrealised;
(ii) the cumulative amount provided till the previous year;
(iii) the amount provided in the current year; and
(iv) the balance amount to be provided.
(b) Such disclosure shall continue to be made until the entire
amount to be provided has been provided for.
(6) In respect of loans against gold or jewellery-
(a) the aggregate amount of loan outstanding against the security of
gold or jewellery shall either be recovered or renewed within three
months from the due date of repayment;
(b) if the loan is not recovered or renewed and the security is not sold
within the aforesaid period of three months, the company shall make
provision in the current year's financial statements to the extent of
unrealised amount or the aggregate outstanding amount of loan
including interest as applicable;
(c) no income shall be recognised on such loans outstanding after the
expiry of the three months period specified in (a) above or sale of gold
or jewellery, whichever is earlier; and
(d) the loan to value ratio shall not exceed 80 percent.
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Explanation.- For the purposes of this rule, the term `loan to value ratio'
means the ratio between the amount of loan given and the value of gold
or jewellery against which such loan is given.
21. Filing of half yearly return.- Every company covered under rule 2
shall file half yearly return with the Registrar in Form NDH-3 along with
such fee as provided in Companies (Registration Offices and Fees) Rules,
2014 within thirty days from the conclusion of each half year duly certified
by a company secretary in practice or chartered accountant in practice or
cost accountant in practice.
22. Auditor's certificate.-The Auditor of the company shall furnish a
certificate every year to the effect that the company has complied with all
the provisions contained in the rules and such certificate shall be annexed to
the audit report and in case of non-compliance, he shall specifically state the
rules which have not been complied with.
23. 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
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 such Regional Director:
Provided that an opportunity of being heard shall be given to the
concerned Nidhi by the Regional Director before appointing any Special
Officer.
24. Penalty for non-compliance.- If a company falling under rule 2
contravenes any of the provisions of the rules prescribed herein, the
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company and every officer of the company who is in default shall be
punishable with fine which may extend to five thousand rupees, and where
the contravention is a continuing one, with a further fine which may extend
to five hundred rupees for every day after the first during which the
contravention continues.
______
*
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Annexure
Form NDH-1
Return of Statutory Compliances
[Pursuant to sub rule (2) of rule 5 of Nidhi Rules, 2014)
1. Corporate Identification Number (CIN) of Nidhi :
2. (a) Name of the Nidhi:
(b) Address of the registered office :
(c) E-mail id, if any:
(d) Phone Number:
3. (a) Number of subscribers to the
Memorandum
(b) Number of members admitted
since date of incorporation upto the
end of the first financial year
(c) Number of persons who have
ceased to be members upto the end
of the first financial year
(d) Number of members as at the end
of the first financial year
4. Whether the number of members as at
the end of the first financial year is
200 or more Yes
No
5. If answer to Sl. No. 4 is No, whether
application for extension of time has
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been made to Registrar Yes
No
If yes, SRN of the application
6. Paid up equity share capital
Free reserves
-----------
Less: Accumulated Losses
Other intangible assets
( give breakup)
------------
Net Owned Funds
------------
7. Unencumbered Term Deposits
(See rule 14)
(a) (i) deposit(s) in scheduled commercial
Banks(in Rs)
(ii) Deposits in Post Office(in Rs)
--------------
Total unencumbered term deposits
---------------
(b) deposits outstanding at the close of
business on the last working day of the
second preceding month:
(c) Percentage of (a)/(b):
8. Ratio of Net Owned Funds to Deposits:
Verification
I am authorised by the Board of Directors of the Company vide resolution
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no............. dated............... to sign this form and declare that all the
requirements of Companies Act, 2013 (18 of 2013) and the rules made
thereunder in respect of the subject matter of this form and matters
incidental thereto have been complied with. I also declare that all the
information given herein above is true, correct and complete including the
attachments to this form and nothing material has been suppressed. It is
hereby further certified that the professional ( Name and Type i.e.
C.A/CS/CWA/ to Given) certifying this form has been duly engaged for this
purpose.
To be digitally signed by
Designation (to be given)
DIN of the person signing the form
Certificate by practicing professional
I declare that I have been duly engaged for the purpose of certification of
this form. It is hereby certified that I have gone through the provisions of
the Companies Act, 2013 (18 of 2013) and rules thereunder for the subject
matter of this form and matters incidental thereto and I have verified the
above particulars (including attachment(s)) from the original records
maintained by the Company (name of Nidhi) which is subject matter of this
form and found them to be true, correct and complete and no information
material to this form has been suppressed. I further certify that;
a. The said records have been properly prepared, signed by the required
officers of the Company and maintained as per the relevant provisions of
the Companies Act, 2013 (18 of 2013) and were found to be in order;
b. All the required attachments have been completely and legibly attached
to this form;
21
Signature
Chartered Accountant/Cost Accountant/Company Secretary in practice
whether Associate or Fellow
Membership No. and also CP No.
Note:
This eform has been taken on file maintained by the Registrar of companies
through electronic mode and on the basis of statement of correctness given
by the filing company. Attention is also drawn to provisions of section 448 of
the Act which provide for punishment for false statement and certification.
22
Form NDH-2
Application for extension of Time
(Pursuant to sub-rule (3) of rule 5 of Nidhi Rules, 2014)
The Regional Director
Ministry of Corporate Affairs,
(respective jurisdiction)
1. Corporate Identification Number (CIN) of Nidhi :
2. (a) Name of the Nidhi:
(b) Address of the registered office :
(c) E-mail id, if any:
(d) Phone Number:
3. Date of Incorporation :
4. Application filed for : extension of time for complying with rule
5(1)(a)
5(1)(d)
5. Position as at the end of the previous financial year
(based on audited financial statement)
(a) Number of members
(b) Ratio of Net Owned Funds to Deposits
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6. Period for which extension is sought for complying with the requirement
of
(a) Rule 5(1)(a) or
(b) Rule 5(1)(d) or
(c) Both (a) & (b) above
7. Reasons for not complying with the requirements of rule 5(1)(a) and/or
rule 5(1)(d)
8. Details of application( in brief)
( Box to be provided)
-----------------------------------------------------------------------------
Verification
I am authorized by the Board of Directors of the Company vide resolution
no............. dated............... to sign this form and declare that all the
requirements of Companies Act, 2013 (18 of 2013) and the rules made
thereunder in respect of the subject matter of this form and matters
incidental thereto have been complied with. I also declare that all the
information given herein above is true, correct and complete including the
attachments to this form and nothing material has been suppressed.
To be digitally signed by
Designation (to be given)
DIN of the person signing the form
24
Attachments:
1.Board resolution
2. Detailed application
3. Audited financial statements( last available)
4. Reasons and justification for the application
Note:
Attention is also drawn to provisions of section 448 which provide for
punishment for false statement and certification.
For office use only: E-form Service Request Number (SRN).................. E-form
filing date....
Digital signature of the authorising officer
This e-form is hereby approved/rejected
Date of signing
25
FORM NDH-3
(Pursuant to rule 21 of Nidhi Rules, 2014)
HALF YEARLY RETURN
(All information shall be furnished for the half year ended 30th September and
31st March of every year; wherever space is not sufficient, separate sheet
containing the required details shall be attached)
---------------------------------------------------------------------------------
1. Name of the Nidhi
2. CIN
3. Registered office
4. Branch details
(i) Total Number of branches
(ii) Names and addresses of branches
within the district
(iii)Names and addresses of branches
outside the District, if any
(iv) Number of branches opened during
the half year and their addresses
(v) Number of branches closed during
the half year and their addresses
5. Membership
(a) Total number of members at the beginning of the half-year
(b) Number of persons admitted
as members during the half year
(c) Number of persons who have ceased
to be members during the half year
(d) Total number of members at the end of the half year
6. Deposits (Amount in Rs)
26
Nature of Balance of Received Repaid Balance of
deposits deposits at the during the during the deposits at
beginning of half year half year the end of
the half year the half
year
Fixed Deposit
Recurring
Deposit
Savings
Deposit
Cumulative
Deposit
Others, if any
( specify)
TOTAL
7. Loans (Amount in Rs)
Nature of Balance of Loan Disbursed Realized Balance of
Loans at the during the during the Loans at
beginning of half year half year the end of
the half year the half
year
Loans against
immovable
property
Loans against
Jewels
Loans against
Deposits
Other loans,
if any
( specify
security)
Loans to
employees
TOTAL
8. Details relating to litigation, if any.
27
At the Filed during Disposed off Outstanding at
beginning of the half year during the half the end of the
the half year year half year
No: Amount No: Amount No: Amount No: Amount
of (Rs) of of of (Rs)
cases cases (Rs) cases (Rs) cases
Suit filed
accounts
9. Financial summary:
(i) Ratio of Net Owned Funds to Deposits
(ii) Total amount of unencumbered Term Deposits(Rs)
(iii) Names and addresses of the Scheduled Commercial
Bank/Post Office where such deposits have been
Placed, with the amount of deposit in each.
(iv) Percentage of unencumbered Term Deposits
to the total deposits outstanding
(v) Paid up share capital(total)
(vi) Amount of paid up Preference Share capital
(a) Outstanding at the beginning of the half year
(b) Redeemed during the period
(c) Outstanding at the end of the half year
--------------------------------------------------------------------------------
Verification
I am authorized by the Board of Directors of the Company vide resolution
no............. dated............... to sign this form and declare that all the requirements
28
of Companies Act, 2013 (18 of 2013) and the rules made thereunder in respect of
the subject matter of this form and matters incidental thereto have been
complied with. I also declare that all the information given herein above is true,
correct and complete including the attachments to this form and nothing material
has been suppressed. It is hereby further certified that the professional ( Name
and Type i.e. C.A/CS/CWA/ to Given) certifying this form has been duly engaged
for this purpose.
To be digitally signed by
Designation (to be given)
DIN of the person signing the form
Certificate by practicing professional
I declare that I have been duly engaged for the purpose of certification of this
form. It is hereby certified that I have gone through the provisions of the
Companies Act, 2013 (18 of 2013) and rules thereunder for the subject matter of
this form and matters incidental thereto and I have verified the above particulars
(including attachment(s)) from the original records maintained by the Company
(name of Nidhi) which is subject matter of this form and found them to be true,
correct and complete and no information material to this form has been
suppressed. I further certify that;
a. The said records have been properly prepared, signed by the required officers
of the Company and maintained as per the relevant provisions of the Companies
Act, 2013 and were found to be in order;
b. All the required attachments have been completely and legibly attached to this
form;
c. It is understood that I shall be liable for action under Section 448 of the
29
Companies Act, 2013 for wrong certification, if any found at any stage.
Signature
Chartered Accountant/ Cost Accountant/Company Secretary in practice whether
Associate or Fellow
Membership No. and also CP No.
-------------------------------------------------------------------------------
Note: This eform has been taken on file maintained by the Registrar of
Companies through electronic mode and on the basis of statement of correctness
given by the filing company. Attention is also drawn to provisions of Section 448
which provide for punishment for false statement and certification.
[F. No. 1/24/2013-CL-V]
(Renuka Kumar)
Joint Secretary to the Govt of India
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