Exemptions for Nidhis tailor Companies Act provisions governing service, voting, dividends, disclosures and director remuneration. Notification prescribes targeted exemptions and modifications for Nidhis: service and notice requirements may be satisfied by serving members above a threshold and notifying other members by local newspaper and notice board; certain share issuance and capital provisions do not apply; voting rights are capped per member; unclaimed dividends may be credited after a shorter period and small dividends may be announced in one local newspaper with notice board posting; loans to directors in member capacity are permitted with disclosure; remuneration of non executive directors may be paid monthly subject to approval and caps.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Exemptions for Nidhis tailor Companies Act provisions governing service, voting, dividends, disclosures and director remuneration.
Notification prescribes targeted exemptions and modifications for Nidhis: service and notice requirements may be satisfied by serving members above a threshold and notifying other members by local newspaper and notice board; certain share issuance and capital provisions do not apply; voting rights are capped per member; unclaimed dividends may be credited after a shorter period and small dividends may be announced in one local newspaper with notice board posting; loans to directors in member capacity are permitted with disclosure; remuneration of non executive directors may be paid monthly subject to approval and caps.
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