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9 Net Owned Funds

Every Nidhi shall maintain Net Owned Funds (excluding the proceeds of any preference share capital) of not less than 1[“twenty lakh"] rupees or such higher amount as the Central Government may specify from time to time.

2[“Provided that every Nidhi existing as on the date of commencement of the Nidhi (Amendment) Rules,2022 shall comply with this requirement within a period of eighteen months from the date of such commencement”.]

Amendment

1.  Substituted by Nidhi (Amendment) Rules, 2022 dated 19th April, 2022

for the words;

“ten lakh”

shall be substituted namely;

“twenty lakh"

2. Inserted Nidhi by (Amendment) Rules, 2022 dated 19th April, 2022