Mahesh Nidhi Limited was incorporated on 30th September, 2020. The Board of Directors seek your advice about the compliances need to be done in respect of each of the following: (i) Compliances which are required to be d

As per Rule 5(1) of the Nidhi Rules, 2014 deals with requirements for minimum number of members, net owned fund etc. It provides that every Nidhi shall, within a period of one year from the date of its incorporation, ensure that it has: Not less than two hundred members Net Owned Funds of ten lakh rupees or more Unencumbered term deposits of not less than ten per cent of the outstanding deposits Ratio of Net Owned Funds to deposits of not more than 1:20. Thus Mahesh Nidhi Ltd. needs to ensure above requirement upto end of the first financial year of the Company.