MCA Notifies Nidhi (Amendment) Rules, 2024

The Ministry of Corporate Affairs (MCA) has notified the Nidhi Amendment Rules, 2024, updating regulations for Nidhi companies. The amendment emphasizes stricter compliance requirements, including enhanced disclosure obligations, improved financial reporting, and governance standards. It mandates regular filing of financial statements and adherence to new procedural norms for loans and deposits. Additionally, the rules introduce provisions for better investor protection and more robust auditing practices. These changes aim to strengthen the operational framework of Nidhi companies, ensuring greater transparency and accountability in their financial activities.