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    How to change or convert Nidhi Company ?

    Posted By : SHALU / Published on : 26-Dec-2022 08:20 AM / View : 208 / Comment : 1

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    share procedure for Conversion of Nidhi company to Private Limited
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    • Nidhi companies are regulated under the Companies Act, 2013 and the Nidhi Rules, 2014. Converting a Nidhi company to another form of company, such as a private limited company, requires following certain procedures and obtaining necessary approvals. The process for converting a Nidhi company is as follows:

      1. Hold a board meeting: The first step is to convene a board meeting and pass a resolution for conversion of the Nidhi company into a private limited company. The board must approve the conversion and authorize the filing of necessary documents with the Registrar of Companies.

      2. Obtain approval from members: The company must obtain approval from its members through a special resolution passed in a general meeting. The notice for the meeting should mention the purpose of the meeting and provide details of the proposed conversion.

      3. File necessary forms with the Registrar of Companies: After obtaining approval from members, the company must file necessary forms with the Registrar of Companies, including Form MGT-14 for approval of the special resolution and Form INC-27 for conversion of the Nidhi company into a private limited company.

      4. Obtain fresh certificate of incorporation: The Registrar of Companies will review the forms and documents submitted by the company and issue a fresh certificate of incorporation upon satisfaction that all requirements have been met. The company must also obtain a new PAN and TAN.

      5. Comply with other legal requirements: After obtaining the fresh certificate of incorporation, the company must comply with other legal requirements applicable to private limited companies, including maintenance of statutory registers, appointment of directors, and compliance with various laws and regulations.

      It is advisable to consult with a professional such as a company secretary or a chartered accountant to ensure compliance with all legal requirements and to smoothly complete the conversion process.

      31-03-2023 / 11:22:52 AM
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