1. Increased Regulatory Oversight and Reforms The Ministry of Corporate Affairs (MCA) has introduced stricter compliance norms through amendments to the Nidhi Rules Companies now require a declaration of intent and approval from the Central Government before...
1. Muthoottu Nidhi (Kerala) One of the oldest and most reputed Nidhi Companies in India Headquartered in Kerala, it operates with hundreds of branches across southern India Offers member-focused services like gold loans, recurring deposits, and fixed deposits Known...
1. Approach the Nidhi Company’s Internal Grievance Cell The first step is to contact the Grievance Officer or the Managing Committee of the Nidhi Company Submit a written complaint via letter, email, or official grievance form Mention the membership number, nature of...
1. Statutory Compliance and Regulatory Filings Nidhi Companies are required to file statutory forms such as NDH-1, NDH-3, AOC-4, and MGT-7 with the Registrar of Companies These filings disclose details of members, deposits, loans, financial statements, and governance...
1. Balance Sheet and Statement of Profit and Loss Nidhi Companies must prepare a Balance Sheet and Profit and Loss Account annually as per Schedule III of the Companies Act, 2013 The Balance Sheet includes share capital, reserves, member deposits, loan assets, and...
1. Legal Authority under the Companies Act A Nidhi Company is incorporated as a public limited company under the Companies Act, 2013 Like any registered company, it has the legal capacity to acquire, own, and transfer immovable property. This right is exercised...
1. Applicability of Section 188 of the Companies Act, 2013 Nidhi Companies are governed by Section 188, which regulates related party transactions under company law. Related parties include directors, key managerial personnel, their relatives, and associated firms or...
1. Legal Possibility of Changing Registered Office Yes, a Nidhi Company is legally permitted to change its registered office. The change must be made by the provisions of the Companies Act, 2013. The process depends on whether the move is within the same city, to...
1. Internal Dispute Resolution Mechanism Most Nidhi Companies include a dispute resolution process in their Articles of Association or internal policies. Members can submit written complaints to the Board of Directors or the Grievance Committee. The board may form a...
1. Board Meetings A Nidhi Company must hold a minimum of four board meetings in a calendar year. The gap between two consecutive board meetings should not exceed 120 days. These meetings are necessary to review and approve financial operations, loans, deposits,...