Rule 9 - Net owned funds. - Nidhi Rules, 2014

9. Net owned funds.- Every Nidhi shall maintain Net Owned Funds (excluding the proceeds of any preference share capital) of not less than 1 [ twenty lakh ] rupees or such higher amount as the Central Government may specify from time to time. 2 [ 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:- 1. Substituted vide Notification No. G.S.R. 301(E) dated 19-04-2022 before it was read as, ten lakh 2. Inserted vide Notification No. G.S.R. 301(E) dated 19-04-2022