A Nidhi Company need to Raise Capital to Mandated Statutory Level for its Operations: Kerala HC rules on Challenge of S. 406 of Companies Act and Nidhi Rules [Read Order]

The court directed the competent Authorities to permit the petitioners to raise their capital within the threshold limit as per the Statutory requirement

By Yogitha S. Yogesh - On April 20, 2024 11:44 am - 2 mins read

Kerala High Court - Companies Act - Nidhi Rules - Nidhi Company - Capital raising - TAXSCAN

In a recent petition challenging section 406 of the Companies Act, 2018, the Kerala High Court ruled that a Nidhi Company need to raise capital to mandated statutory level for its operations. The petitioners in these cases are stated to be ‘Nidhi Companies”, operating under the Companies Act, 1956. The petitioners call into question the amendments…

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