¹[23A. Compliance with rule 3A by certain Nidhis:- 

Every company referred to in clause (b) of rule 2 and  every Nidhi incorporated under the Act, before the commencement of Nidhi (Amendment) Rules, 2019, shall also get itself declared as such in accordance with rule 3Awithin a period of one year from the date of its incorporation or within a period of ²[nine months]  from the date of commencement of Nidhi (Amendment) Rules, 2019, whichever is later:

Provided that in case a company does not comply with the requirements 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).]

³[“Provided further that no company which has not complied with the requirements of this rule, or fails to comply with such requirement on or after the date of 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 the date of commencement of the said rules, 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.]

Amendment

1.  Inserted by  Nidhi (Amendment) Rules 2019    Amendment Effective from 15th August 2019.

2.  Substituted by the Nidhi (second Amendment) Rules,2020. Yet to be notified

in rule 23A for the words,

six months

the following shall be substituted namely;

nine months.

3. Inserted by Nidhi (Amendment) Rules, 2022 dated 19th April, 2022

Note :

1. Corrigendum Notification dated 02.03.2020