MCA cracks down on errant Nidhi companies, penalises two dozen in a fortnight

The Registrar of Companies has imposed penalties on over two dozen Nidhi companies for breaches of the Companies Act, such as delayed financial filings and share allotment issues. Fines range from ₹20,000 to ₹12.5 lakh, with Sri Sathuragiri Nidhi receiving the highest penalty. This initiative seeks to ensure compliance and protect small investors.