Power to modify Companies Act application to Nidhis: government declares specified companies and prescribes exemptions. Central Government, exercising powers to modify the Companies Act for Nidhis, declares the listed companies to be Nidhis subject to prior Government directions and amends the earlier notification by adding these companies to Schedule I. The notification specifies that certain Act provisions in Schedule III shall not apply to them or shall apply only with stated exceptions, modifications and adaptations, thereby formalising their classification and the modified statutory application.
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Provisions expressly mentioned in the judgment/order text.
Power to modify Companies Act application to Nidhis: government declares specified companies and prescribes exemptions.
Central Government, exercising powers to modify the Companies Act for Nidhis, declares the listed companies to be Nidhis subject to prior Government directions and amends the earlier notification by adding these companies to Schedule I. The notification specifies that certain Act provisions in Schedule III shall not apply to them or shall apply only with stated exceptions, modifications and adaptations, thereby formalising their classification and the modified statutory application.
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