Modification of Companies Act application to Nidhis: declaration of a company as a Nidhi with specified tailored applicability. The Central Government, using the power under section 620A, declares Sullivan Garden Benefit Fund Limited to be a Nidhi and directs that the Companies Act provisions listed in column (1) of Schedule III to the earlier notification shall not apply or shall apply with the exceptions, modifications and adaptations specified in column (2), thereby providing tailored regulatory treatment; the notification further amends the prior notification by adding an entry for the company to Schedule I.
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Modification of Companies Act application to Nidhis: declaration of a company as a Nidhi with specified tailored applicability.
The Central Government, using the power under section 620A, declares Sullivan Garden Benefit Fund Limited to be a Nidhi and directs that the Companies Act provisions listed in column (1) of Schedule III to the earlier notification shall not apply or shall apply with the exceptions, modifications and adaptations specified in column (2), thereby providing tailored regulatory treatment; the notification further amends the prior notification by adding an entry for the company to Schedule I.
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