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TMI BlogNidhi (Amendment) Rules, 2022X X X X Extracts X X X X X X X X Extracts X X X X ..... ply with such requirement on or after the commencement of the Nidhi (Amendment) Rules, 2022, or in case the application submitted by the company in Form NDH-4 is or has been rejected by the Central Government, shall raise any deposit from its members or provide any loan to its members under the provisions of these rules from the date of such non-compliance, or from the date of the commencement of the above said rules, or the date of rejection of the application in Form NDH-4, whichever is later. Provided also that if any deposit raised by a company after the date of non-compliance, or the date of commencement of the above said rules, or the date of rejection of the application in Form NDH-4, whichever is later as referred to in the fourth proviso shall be deemed to have been raised in pursuance of Chapter V of the Act, and shall be subject to all the requirements under that Chapter, or under any other provisions of the Act or the rules made thereunder, as the case may be. Provided also that nothing in this rule shall apply to companies incorporated as Nidhi on or after the commencement of the above said rules. (3) (2) After rule 3A , of the said rules , the following ru ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on an application filed in form NDH-4 is not taken by the Central Government within the aforesaid period of receipt of such application, the same shall be deemed as approved. (5) On being satisfied that the company meets the requirements under sub- rules (2) and (3), the Central Government, shall notify in the Official Gazette, declaring it as a Nidhi or Mutual Benefit Society, as the case may be: Provided that the decision of the Central Government approving the application, shall be filed by the company with the Registrar alongwith Form 20A required under section 10A of the Act: Provided further that such company shall commence its business only once the decision of the Central Government approving its application is obtained from the Central Government pursuant to the declaration given under rule 12 of the Companies (Incorporation) Rules, 2014. (6) In case a company does not comply with the requirements of sub- rule (1) of this rule, it shall not be allowed to file Form No. SH-7 (Notice to Registrar of any alteration of share capital) and Form PAS-3 (Return of allotment). (7) The provisions of this rule shall not be applicable to a public company incorporated und ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... b-rules (4) and (5) , the words or collection centres or offices or deposit centres, or by whatever name called shall be omitted; (iii) for sub-rule (6), the following sub-rule shall be substituted, namely:- (6) (a) A Nidhi shall not close any branch, unless, - (i) the proposal to close the branch along with the plan as to how the existing deposits have been or shall be paid off and how the existing loan shall be recovered is duly approved by the Board at its meeting; and (ii) it has obtained the prior approval of the Regional Director by applying in Form NDH-2 along with fee as specified in the Companies (the Registration Offices and Fees) Rules, 2014 at least sixty days prior to such closure. Provided that the Regional director shall consider such application and pass orders within a period of thirty days of receipt of such application. (b) After obtaining approval from the Regional Director, the Nidhi shall- (i) publish advertisement, as per format NDH-5, 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; (ii) fixes a copy of such advertise ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , or the date of rejection of the application in Form NDH-4, whichever is later. Provided also that any deposit raised by a company after the date of non-compliance, or the date of commencement of the above said rules, or the date of rejection of the application in Form NDH-4, whichever is later, as referred to in the second proviso shall be deemed to have been raised in pursuance of Chapter V of the Act, and shall be subject to all the requirements under that Chapter, or under any other provisions of the Act or the rules made thereunder, as the case may be. 16. In the Annexure to the said rules , (1) In Form NDH-2 - (a) for the heading Application for extension of time , the heading Application to Regional Director and Intimation to Registrar , shall be substituted ; (b)for serial No. 4, the following shall be substituted, namely :- 4. Application filed for: (i) for extension of time under sub-rule (3) of rule 5 (ii) for permission of Regional Director for opening of branch under sub- rule (3) of rule 10 (iii) for permission of Regional Director for closing of branch under clause (a) of sub-rule 6 of rule 10 (iv) for intimation to Registrar for o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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