Power of Central Government or Company Law Board to accord approval, etc. - Nidhis/Mutual Benefit Society - Amendments in Notification No. GSR 603(E), dated 20-10-1997 - GSR 85(E), - Companies Law
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Loan limits for Nidhis and Mutual Benefit Societies: tiered caps based on deposit tiers and prior profit history. Amendment replaces the prior sub item to set tiered maximum loans and advances for Nidhis and Mutual Benefit Societies based on bands of total member deposits, and imposes a lower lending cap where the society has not made profits in the three preceding years.
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Provisions expressly mentioned in the judgment/order text.
Loan limits for Nidhis and Mutual Benefit Societies: tiered caps based on deposit tiers and prior profit history.
Amendment replaces the prior sub item to set tiered maximum loans and advances for Nidhis and Mutual Benefit Societies based on bands of total member deposits, and imposes a lower lending cap where the society has not made profits in the three preceding years.
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