The Ministry of Corporate Affairs vide its notification dated 14th February 2020, has published the Nidhi (Second Amendment) Rules, 2020 wherein Rule 23a has been amended.
As per the new amendment, a public company shall declare it as Nidhi and every Nidhi incorporated under the Act shall get itself declared within a period of 1 year from the date of its incorporation or within a period of 9 months from the date of commencement of Nidhi (Amendment) Rules, 2019, whichever is later. The period was initially 6 months from commencement of Nidhi rules which is hereby extended for another 3 months.
Click here to read the Notification.
