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Rule 18: Dividend · Complied AI

Chapter 42
Rule 18

Rule 18Chapter 42

Dividend

Dividend .- A Nidhi shall not declare dividend exceeding twenty five per cent or such higher amount as may be specifically approved by the Regional Director for reasons to be recorded in writing and further subject to the following conditions, namely:—

(a)

an equal amount is transferred to General Reserve;

(b)

there has been no default in repayment of matured deposits and interest; and

(c)

it has complied with all the rules as applicable to Nidhis.

Notes, amendments & references (1)

18. Dividend. Inserted vide the Nidhi (Amendment) Rules, 2022 dated 19.04.2022. To view the Notification, Click Here .

Rule 17 Rule 18 Rule 19