Interpretation of Rule 5(2) of Nidhi Rules, 2014

    Posted By : Damini / Published on : 29-Jul-2020 05:14 PM / View : 30 / Comment : 0
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    Dear All,

    With reference to the subject cited above, can someone in this group interpret the below provision of the rule.

    Rule 5(2) of Nidhi Rules, 2014.

    "(2) Within ninety days from the close of the first financial year after its incorporation and where applicable, the second financial year, Nidhi shall file a return of statutory compliances in Form NDH-1 along with such fee as provided in Companies (Registration Offices and Fees) Rules, 2014 with the Registrar duly certified by a company secretary in practice or a chartered accountant in practice or a cost accountant in practice."

    My Understanding is : nidhi shall file statutory compliance in form NDH-1:-
    Within ninety days from the close of the first financial year after its incorporation- This pertains to those companies incorporated after the said rule come into effect i.e. 2014.

    where applicable, the second financial year,- This pertains to those companies incorporated prior to the said rule came into effect.

    Is my understanding correct? if not, feel free to comment your interpretation accordingly
    Read more on : rules nidhi rule interpretation



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