Modification of Companies Act application to Nidhi: government declares a fund a Nidhi and prescribes statutory adaptations. The Central Government, under section 620A, declares Shri Samundeswari Benefit Fund Limited to be a Nidhi and directs that the Companies Act provisions listed in Schedule III to GSR 978/1963 shall not apply or shall apply with the exceptions, modifications and adaptations specified in the corresponding entries, as they pertain to the declared Nidhi. The notification amends the earlier instrument by adding the company as item 151 in Schedule I to record its status and trigger the specified adaptations.
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Modification of Companies Act application to Nidhi: government declares a fund a Nidhi and prescribes statutory adaptations.
The Central Government, under section 620A, declares Shri Samundeswari Benefit Fund Limited to be a Nidhi and directs that the Companies Act provisions listed in Schedule III to GSR 978/1963 shall not apply or shall apply with the exceptions, modifications and adaptations specified in the corresponding entries, as they pertain to the declared Nidhi. The notification amends the earlier instrument by adding the company as item 151 in Schedule I to record its status and trigger the specified adaptations.
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