Nidhi company provisions modified: service, voting limits, dividend procedures, director remuneration and filing fee adaptations. Amendments tailor application of specified Companies Act provisions to Nidhi companies and Mutual Benefit Societies by substituting a specialized Schedule that carves out, modifies, or exempts general statutory obligations. Service of documents is limited to substantial members with broader notice permitted for smaller holders. Voting rights are capped to prevent concentration, meeting and balance sheet notice requirements may be fulfilled by public notice and notice board disclosure for small members, and dividend, filing fee, director remuneration, loan disclosure and nomination deposit rules are adapted to the mutual context.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Nidhi company provisions modified: service, voting limits, dividend procedures, director remuneration and filing fee adaptations.
Amendments tailor application of specified Companies Act provisions to Nidhi companies and Mutual Benefit Societies by substituting a specialized Schedule that carves out, modifies, or exempts general statutory obligations. Service of documents is limited to substantial members with broader notice permitted for smaller holders. Voting rights are capped to prevent concentration, meeting and balance sheet notice requirements may be fulfilled by public notice and notice board disclosure for small members, and dividend, filing fee, director remuneration, loan disclosure and nomination deposit rules are adapted to the mutual context.
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