Modification power under Companies Act: Certain companies declared Nidhis with tailored Act provisions applied, with specified exceptions. Declares thirteen specified companies to be Nidhis under the Companies Act, 1956 and directs that provisions of the Act listed in column (1) of Schedule III to G.S.R. 978 of 1963 shall not apply, or shall apply with the exceptions, modifications and adaptations specified in column (2). It amends Schedule I of the principal notification by adding serial entries 245-257 to list the named companies and their addresses, thereby bringing them within the tailored exemption/adaptation framework for Nidhis.
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Modification power under Companies Act: Certain companies declared Nidhis with tailored Act provisions applied, with specified exceptions.
Declares thirteen specified companies to be Nidhis under the Companies Act, 1956 and directs that provisions of the Act listed in column (1) of Schedule III to G.S.R. 978 of 1963 shall not apply, or shall apply with the exceptions, modifications and adaptations specified in column (2). It amends Schedule I of the principal notification by adding serial entries 245-257 to list the named companies and their addresses, thereby bringing them within the tailored exemption/adaptation framework for Nidhis.
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