27 February 2017
According to rule 4 of Nidhi Rules,2014 ; a Nidhi company shall be a public company and must have a minimum paid up equity share capital of 5 lakh rupees. But Companies (amendment)act,2015 has omitted the requirement for minimum paidup share capital for private and public companies. So considering that Nidhi co. shall be a public company, whether omission of minimum paidup share capital will be applicable to nidhi co. or it will continue to have min.5 lakh as its paidup equity share capital ??? please reply soon
27 February 2017
Omission of minimum capital becomes infructuous by virtue of rule 5(b) of Nidhi Rules, 2014 where in the 'net owned funds' to begin with should be at least Rs.10 lakhs.
CAclubindia
