Introduction

Nidhi Companies are mutual benefit institutions formed under Section 406 of the Companies Act, 2013, and regulated by the Nidhi Rules, 2014. Though they operate with a limited scope, primarily accepting deposits and issuing loans to their members, Nidhi Companies must comply with a structured set of annual, half-yearly, and event-based statutory requirements. These compliances ensure financial transparency, corporate governance, and legal accountability. Adhering to the compliance calendar is critical to avoid penalties, maintain credibility, and continue operations as a legally recognized financial entity. This explanation outlines the detailed compliance calendar applicable to Nidhi Companies in India.

Form NDH-1 – Annual Compliance Filing

Form NDH-1 is a statutory compliance form that must be filed within ninety days from the end of the first financial year after incorporation. It certifies whether the Nidhi Company has complied with key requirements such as maintaining at least two hundred members, net owned funds of ten lakh rupees, and a deposit-to-fund ratio of 1:20. This form must be certified by a practicing chartered accountant, company secretary, or cost accountant.

Form NDH-2 – Extension for Compliance

If a Nidhi Company fails to meet the minimum compliance requirements within the first year, it must file Form NDH-2 to seek an extension of time. This form must be submitted to the Regional Director of the Ministry of Corporate Affairs with a justification for the delay. It must be filed within thirty days from the close of the first financial year. Approval of this form allows the company to retain its Nidhi status temporarily until compliance is met.

Form NDH-3 – Half-Yearly Returns

Form NDH-3 is a half-yearly return that must be filed twice a year. The deadlines are: April return for the period from October to March – due by 30th April, October return for the period from April to September – due by 30th October. This return includes details such as the number of members admitted during the period, total deposits, loans issued, loan repayments, and reserve funds maintained. It must be signed by a director and certified by a practicing professional.

Form AOC-4 – Filing of Financial Statements

Form AOC-4 is used for filing the company’s annual financial statements, including the balance sheet, profit and loss statement, cash flow statements, and board’s report. It must be filed with the Registrar of Companies within thirty days of the Annual General Meeting (AGM). The AGM must be held within six months of the end of the financial year. Timely submission of this form ensures transparency in the company’s financial position.

Form MGT-7 – Filing of Annual Return

Form MGT-7 is the annual return that contains detailed information about the company’s shareholders, directors, shareholding pattern, and changes in company structure. It must be filed within sixty days from the date of the AGM. This return plays a critical role in maintaining updated company records with the Registrar of Companies and reflecting the company’s governance practices.

Board Meetings and Annual General Meeting

A Nidhi Company must conduct a minimum of four board meetings in a financial year, with a gap of not more than 120 days between two consecutive meetings. The Annual General Meeting (AGM) must be held once every year, within six months from the end of the financial year. In the AGM, members approve financial statements, elect or reappoint directors, and discuss the company’s overall performance and policy changes.

Income Tax Return Filing

Apart from filings under the Companies Act, a Nidhi Company is required to file its income tax return annually using Form ITR-6. This return must be filed by 30th September if the accounts are audited. The company must maintain accurate records of income, expenses, interest earned, and tax deductions to complete this return correctly.

Audit of Accounts and Internal Record Maintenance

Nidhi Companies must get their accounts audited annually by a qualified chartered accountant. The audit ensures that financial transactions are accurate and comply with applicable laws. Proper books of accounts, member registers, deposit ledgers, loan files, and board meeting minutes must be maintained and presented during the audit. The audit report becomes part of the annual filing process through Form AOC-4.

Event-Based Compliances

In addition to the calendar-based compliances, Nidhi Companies must fulfill event-based obligations such as: Filing DIR-12 for the appointment or resignation of directors, Filing INC-22 for changes in the registered office, Filing MGT-14 for passing certain resolutions in the board or general meetings. All such forms must be filed within the prescribed timelines following the occurrence of the respective events.

Conclusion

The compliance calendar for Nidhi Companies ensures continuous legal and financial discipline throughout the year. From annual returns and half-yearly filings to board meetings and income tax returns, every step is regulated to preserve member confidence, safeguard funds, and promote transparency. Strict adherence to the compliance requirements not only helps in avoiding penalties and disqualification but also strengthens the reputation and sustainability of the company. Understanding and following this compliance calendar is essential for directors, managers, and professionals associated with Nidhi Companies to ensure efficient and lawful operations.

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