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of <h1>Central Government Amends Nidhi Company Membership Rules Under Section 637A(1) of Companies Act, 1956; Compliance Required in One Year</h1> The Central Government, under Section 637A(1) of the Companies Act, 1956, has issued modifications to previous notifications GSR 241 and GSR 773(E). For GSR 241, dated 28th April 1995, the requirement for nidhi companies has been amended to mandate at least two thousand members, granting existing Nidhis and Mutual Benefit Societies one year to comply by increasing their membership from one thousand to two thousand. In GSR 773(E), dated 4th December 1995, sub-item (vi) in item (a) is omitted. These changes take effect upon publication in the Official Gazette.
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