A Nidhi company sought relief against rejections of its NDH-4 application. Relying on its earlier judgment in W.P.(C).No.38860/2023 and connected cases, the court applied the same directions: compounding liberty, fresh consideration of NDH applications, rectification opportunity, and capital-raising within statutory thresholds.
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IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE V.G.ARUN
TUESDAY, THE 9TH DAY OF JULY 2024 / 18TH ASHADHA, 1946
WP(C) NO. 22958 OF 2024
PETITIONER:
ISRA NIDHI LIMITED DOOR NO. 19/620, KRISHNAKRIPA TOWER, MARATHAKKARA P O, THRISSUR - REPRESENTED BY ITS MANAGING DIRECTOR PRAVEEN E PETER, PIN - 680306 BY ADV P.K.RAVISANKAR
RESPONDENTS:
OTHER PRESENT:
SRI. P.R. AJITH KUMAR, CGC SRI. AJITH VISWANATHAN, GP
THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON
09.07.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
W.P.(C).No.22958/2024
2
V.G.ARUN, J
= = = = = = = = = = = = = = = = = W.P.(C).No.22958 of 2024
= = = = = = = = = = = = = = = = = = = = = Dated this the 9th day of July, 2024
JUDGMENT
When this case was taken up, the counsel for the petitioner submitted that the issue is covered by the judgment in W.P.(C).No.38860/2023 & connected cases and the same directions may be issued in this case also. The directions in the said judgment reads as under:-
W.P.(C).No.22958/2024
3
which action under the criminal law is initiated or proposed; in which event, the respective petitioners will be informed to the same appositely.
(c) On the offences committed by the petitioner - Nidhi Companies, if any, being compounded in terms of the afore directions, they will be at liberty to apply afresh, in the format prescribed as per the “NDH Form”; and if this is done, it will be considered dispassionately and without being trammeled or influenced by the earlier rejections, and dehors the orders qua the same; and appropriate new orders and necessary action issued and completed thereon, without any avoidable delay, but not later than three months from the date of the receipt of the application.
W.P.(C).No.22958/2024
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to say, if the petitioners require any clarifications in future, on the working of the afore directions, they will be at liberty to approach this Court through appropriate applications. ”
Being in respectful agreement with the directions extracted above, the writ petition is disposed of by making the directions in W.P.(C).No.38860/2023 & connected cases applicable to this case also.
Sd/-
V.G.ARUN, JUDGE
NB
W.P.(C).No.22958/2024
5
APPENDIX OF WP(C) 22958/2024
| PETITIONER EXHIBITS EXHIBIT P1 |
TRUE COPY OF INCORPORATION OF 2021 AS A "NIDHI" |
THE CERTIFICATE OF THE PETITIONER DATED 6-5- |
|---|---|---|
| EXHIBIT P2 | TRUE COPY OF THE OF THE PETITIONER |
MEMORANDUM OF ASSOCIATION COMPANY DATED 30-4-2021 |
| EXHIBIT P3 | TRUE COPY OF T COMPANIES (AMENDM 2018 |
HE RELEVANT PORTION OF ENT) ACT, 2017 DATED 3-1- |
| EXHIBIT P4 | TRUE COPY OF THE 2019 ISSUED BY TH |
S.O. 2269 (E) DATED 1-7- E 1ST RESPONDENT |
| EXHIBIT P5 | TRUE COPY OF THE 2019 DATED 1-7-20 |
NIDHI (AMENDMENT) RULES, 19 |
| EXHIBIT P6 | TRUE COPY OF TH SUBMITTED BY THE |
E APPLICATION DATED NIL PETITIONER IN NDH-4 FORM |
| EXHIBIT P7 | TRUE COPY OF THE 19-6-2024 ISSUED |
E-MAIL COMMUNICATION DATED BY THE 1ST RESPONDENT |
| EXHIBIT P8 | TRUE COPY OF TH SUBMITTED BY THE RESPONDENT |
E LETTER DATED 24-6-2024 PETITIONER BEFORE THE 4TH |
| EXHIBIT P9 | TRUE COPY OF THE 2021 IN WP(C) NO. OF THIS HONOURABL |
INTERIM ORDER DATED 25-10- 22959 OF 2021 ON THE FILE E COURT |
| EXHIBIT P10 | TRUE COPY OF THE 2022 PUBLISHED A |
NIDHI (AMENDMENT) RULES, S PER G.S.R. NO. 301(E) |
| DATED 19-4-2022 RESPONDENT |
ISSUED BY THE 1ST | |
| EXHIBIT P11 | TRUE COPY OF THE (C) NO. 14915 OF COURT |
ORDER DATED 9-4-2024 IN WP 2024 OF THIS HONOURABLE |
RESPONDENTS EXHIBITS NIL
1 issue framed by the court
Whether the directions in W.P.(C).No.38860/2023 regarding Nidhi companies' compounding and NDH applications should be extended to this petitioner.
1 provisions across 1 enactments
Isra Nidhi Limited
Union of India
Deputy Director, Ministry of Corporate Affairs
Regional Director Southern Region, Ministry of Corporate Affairs
Registrar of Companies (Kerala)
V.G.Arun
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
