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of <h1>India Modifies Companies Act 2013 for Nidhis: Changes to Voting Rights, Dividends, Director Pay, and More</h1> The Government of India, through the Ministry of Corporate Affairs, issued a notification on June 5, 2015, detailing exemptions and modifications to certain provisions of the Companies Act, 2013, as applicable to Nidhis. These include changes to sections concerning document service, voting rights, share purchase, dividend payment, and director remuneration, among others. Specific provisions such as sections 42, 62, and 185, among others, are either exempted or modified for Nidhis. The notification ensures that while these adjustments are made, the interests of shareholders are safeguarded. This notification has been presented to Parliament as required by law.
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