Nidhi (Amendment) Rules 2022
On 20th April, 2022, the Ministry of Corporate Affairs amended the Nidhi Rules, 2014 to safeguard the interests of the general public.
- Under the Companies Act, 2013, initially, there was no need for a company to get a declaration from the Central Government to function as a Nidhi Company, now it has been made mandatory.
Need
- The move by the corporate affairs ministry comes against the backdrop of a significant increase in the number of Nidhi companies in recent years and instances of the people getting duped by fraudulent money pooling activities.
- During 2014-2019, more than 10,000 companies got incorporated. However, only ....
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