Guidelines for filing of form NDH-4 (Application for Declaration/ Updation of status of Nidhi)
Ministry of corporate affairs came up with some amendments in existing Nidhi Rules, 2014 through a Notification dated 01st July 2019. These rules called as Nidhi (Amendment) Rules, 2019 and came into force with effect from 15 August, 2019.
With this amendment asked public companies for declaring it as Nidhi and on being satisfied that the company meets the requirements under Nidhi rules 2014, shall notify the company as a Nidhi in the Official Gazette. For the purpose of above mentioned declaration Ministry came up with a new e form called Form NDH-4 (Form for filing application for declaration as Nidhi Company and for updation of status by Nidhi.)
- Applicability of Form NDH-4 : Every Nidhi Company is required to file a declaration through NDH-4 whether they incorporated before introduction of Nidhi (Amendment) Rules, 2019 or after.
- Due Date for filing of Form NDH-4 : For Nidhi Company under the Act on or after the commencement of the Nidhi (Amendment) Rules,2019:
- A Nidhi Company incorporated under this Act on or after the commencement of the Nidhi (Amendment) Rules, 2019 shall file Form NDH-4 within 60 days from the date of expiry:
- One year from the date of its incorporation or;
- The period up to which extension of time has been granted by the Regional Director under sub rule (3) of rule 5.
- For Nidhi Company incorporated under the Act, before the commencement of Nidhi (Amendment) Rules, 2019:
- Every Nidhi incorporated under the Act, before the commencement Nidhi (Amendment) Rules, 2019, shall also get itself declared as such in accordance with rule 3A within a period of six months from the date of commencement of Nidhi (Amendment) Rules,2019 (whichever is later).
- Mandatory attachments of NDH-4
- Copy of the resolution of the Board of Directors in support of the proposal of the Company
- Certificate signed by two Directors regarding the number of members as on date of application (membership should not be less than 200)
- Certificate from the auditor of the Company to the effect that the Company has complied with the Nidhi Rules, 2014
- In case the user selects the “Application for updation of status by Nidhi” then a copy of notification through which Company was declared Nidhi under the Companies Act is required to be attached.
- Consequence of Non-Filing of NDH-4 : If the Nidhi Company fails to furnish the details in NDH-4 on or before the prescribed due date, then the said Company will not be able to file e-form SH-7 and e-form PAS-3.