Extension of period for Nidhi Companies for making declaration in Form NDH-4
Government of India
Ministry of Corporate Affairs
NOTIFICATION
New Delhi, the 14 February, 2020
G.S.R. 114(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 (Second Amendment) Rules, 2020.
(2) They shall come into force on the date of their publication in the Official
2. In the Nidhi Rules, 2014, in rule 23A, for the words “six months” the words “nine months” shall be substituted.
[F. No. 1/24/2013-CL.V(Part-1)]
(K.V.R. Murty)
Joint Secretary to the Government of India
Note: The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 258(E), dated the 31st March, 2014 and subsequently amended vide notification number G.S.R. 467(E), dated the 1st July, 2019 and vide notification number G.S.R. 81 (E) dated the 3rd February, 2020
- ITAT allows exemption of Rs. 25 lakhs u/s 10(10A) to non-government employees
- PCIT has revisionary jurisdiction u/s 263 over the cases passed by the NFAC or the JAO
- Appellate court interfering with MACT finding must undertake reappreciation of evidence
- When delay is not huge & involves huge monetary liability, lenient approach to be taken
- EoGM of company can not ratify diversion of fund raised by preferential issue – SC


