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Date: 16-Jul-2024 Category: Extra Ordinary State: Union Government Country: India

Nidhi Amendment Rules 2024

Issued by Ministry of Corporate Affairs · Not Applicable

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Executive Summary & Key Takeaways

What it means

  • This gazette notification announces the Nidhi (Amendment) Rules, 2024, amending the Nidhi Rules, 2014. The key amendment restricts the use of the words “Nidhi Limited” in a company name unless officially declared as such under Section 406(1) of the Companies Act, 2013.

Key Changes

  • A new proviso is added to sub-rule (5) of Rule 4 of the Nidhi Rules, 2014. This proviso states that a company cannot use "Nidhi Limited" in its name unless it has been declared as such under Section 406(1) of the Companies Act, 2013.
  • The amendment comes into effect on the date of publication in the Official Gazette (July 16, 2024).

Impact Analysis

Impact on Nidhi Companies

  • Companies planning to incorporate as Nidhi companies will need to ensure they meet the requirements of Section 406(1) of the Companies Act, 2013 before including "Nidhi Limited" in their name.

Impact on the Ministry of Corporate Affairs (MCA)

  • Potential increase in enforcement activities to ensure compliance with the amended rules.

Impact on Legal Professionals

  • Increased demand for legal advice from Nidhi companies regarding name changes and compliance with Section 406(1) of the Companies Act, 2013.

Suggested Actions

  • The MCA should proactively communicate the changes to affected companies and provide guidance on compliance.

Key Entities Referenced

Companies Act, 2013 (18 of 2013): The primary legislation governing companies in India. Section 406 and Section 469 are relevant to this notification. Nidhi Rules, 2014: Rules governing Nidhi companies, amended by the Nidhi (Amendment) Rules, 2024. Nidhi (Amendment) Rules, 2024: The rules introduced by this gazette notification, amending the Nidhi Rules, 2014. Ministry of Corporate Affairs (MCA): The Indian government ministry responsible for corporate affairs, including the administration of the Companies Act, 2013. Gazette of India: The official publication where this notification was published.
Official Source Record View Original Source →
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-17072024-255487 xxxGIDHxxx CG-DLxx-xEG-I1D7E0x7x2x0 24-255487 असाधारण EXTRAORDINARY भाग II—खण् ड 3—उप-खण्ड (i) PART II—Section 3—Sub-section (i) प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 376] नई दिल्ली, मगं लवार, िुलाई 16, 2024/आिाढ 25, 1946 No. 376] NEW DELHI, TUESDAY, JULY 16, 2024/ASHADHA 25, 1946 कारपोरेट कार् यमत्रं ालर् अजधसचू ना नई दिल्ली, 16 िुलाई, 2024 सा.का.जन. 413(अ).—केंद्रीर् सरकार, कंपनी अजधजनर्म, 2013 (2013 का 18) की धारा 469 की उपधारा (1) और (2) के साथ पठित धारा 406 की उप-धारा (1) द्वारा प्रित्त िजिर्ों का प्रर्ोग करत े हुए, जनजध जनर्म, 2014 का और संिोधन के जलए जनम्नजलजखत जनर्म बनाती ह,ै अथायतः- 1. (1) इन जनर्मों का संजिप्त नाम जनजध (संिोधन) जनर्म, 2024 ह।ै (2) र् ेरािपत्र म ेंइनके प्रकािन की तारीख को प्रवृत्त होंगे। 2. जनजध जनर्म, 2014 के, जनर्म 4 के, उप-जनर्म (5) में, जनम्नजलजखत परंतुक अतं ःस्ट्थाजपत दकर्ा िाएगा, अथायतः- “परंत ु र्ह दक कोई कंपनी अपने नाम म ें “जनजध जलजमटेड” िब्िों का प्रर्ोग तब तक नहीं करेगी िब तक दक इस े अजधजनर्म की धारा 406 की उपधारा (1) के अधीन उस रूप में घोजित नहीं कर दिर्ा िाता ह।ै ” [फा.सं. 5/62/2023-सीएल.-VII-एमसीए] मनोि पाण्डेर्, अपर सजचव ठटप्पणः मलू जनर्म भारत के रािपत्र में अजधसूचना संख्र्ा सा.का.जन. 258(अ) तारीख 2 अप्रलै , 2014 द्वारा प्रकाजित दकए गए, तत्पश्चात ् क्रमिः अजधसूचना संख्र्ा सा.का.जन. 467(अ) तारीख 1 िलु ाई, 2019 द्वारा संिोजधत दकए गए, तत्पश्चात् अजधसूचना सख्ं र्ा सा.का.जन.114(अ) तारीख 14 फरवरी, 2020 द्वारा संिोजधत दकए गए, तत्पश्चात् अजधसूचना संख्र्ा सा.का.जन. 301(अ) तारीख 19 अप्रलै , 2022 द्वारा और संिोजधत दकए गए और अजधसूचना संख्र्ा सा.का.जन.35(अ) तारीख 20 िनवरी, 2023 द्वारा अंजतम बार संिोजधत दकए गए थे। 4301 GI/2024 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)] MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 16th July, 2024 G.S.R. 413(E).—In exercise of the powers conferred by sub-section (1) of section 406 read with sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules, further to amend the Nidhi Rules, 2014, namely:- 1 (1) These rules may be called the Nidhi (Amendment) Rules, 2024. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Nidhi Rules, 2014, in rule 4, in sub-rule (5,) the following proviso shall be inserted, namely: - “Provided that a company shall not use the words “Nidhi Limited” in its name unless it is declared as such under sub-section (1) of section 406 of the Act.” [F. No. 5/62/2023-CL-VII-MCA] MANOJ PANDEY, Addl. Secy. Note: The principal rules were published in the Gazette of India vide notification number G.S.R. 258(E), dated the 2nd April, 2014, subsequently amended vide notification number G.S.R. 467(E) dated the 1st July, 2019, subsequently amended vide notification number G.S.R. 114(E) dated the14th February, 2020, further amended, vide notification number G.S.R. 301(E) dated the19th April, 2022 and were last amended, vide notification number G.S.R. 35 (E) dated the 20th January, 2023. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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