NDH -1

Yes, it is mandatory for your Nidhi company to file Form NDH-1.

Explanation

Form NDH-1 is a "Return of Statutory Compliances" that every Nidhi company is required to file within 90 days from the closure of the first financial year after its incorporation.

For a company incorporated in August 2020:

• Financial Year: The first financial year closed on March 31, 2021.

• Due Date: You were required to file the form within 90 days of that date (i.e., by June 29, 2021).

Even if your member count at that time (140) was below the mandatory threshold of 200 members, the filing is still required to report the status of your compliance. Failing to meet the 200-member requirement within one year of incorporation is a significant non-compliance that typically requires a separate application (Form NDH-2) to the Regional Director to seek an extension of time.

Key Points to Remember:

• Purpose: NDH-1 serves as a health check to inform the Registrar of Companies (ROC) about your member count, net owned funds, and deposit-to-ratio status.

• Certification: This form must be duly certified by a practicing professional (Chartered Accountant, Company Secretary, or Cost Accountant).

• Action Required: If you have not yet filed this for the period ending March 31, 2021, you should consult with your professional advisor immediately to assess the current status and address the potential delay, as there are penalties for late filing.

Summary: Yes, filing Form NDH-1 is mandatory for the first financial year (ending March 31, 2021), regardless of whether you met the 200-member criteria by that date. As the deadline has passed, please consult with your company secretary or chartered accountant to address the late filing.