Power of Central Government or Company Law Board to accord approval, etc., subject to conditions and to prescribe fees on applications https://www.taxtmi.com/notifications?id=23727 Companies declared as Nidhi or Mutual Benefit Societies are prohibited from pledging member lodged securities and from giving loans or advances exceeding the lower of a fixed loan ceiling and a specified proportion of total deposits. They must ensure that the total of their net owned fund and preference share capital meets a prescribed minimum, subject to revision by the Central Government in consultation with the Reserve Bank of India, with transitional time allowed for existing societies; interest rates on deposits and loans must conform to Reserve Bank regulations. en-us Mon, 20 Oct 1997 00:00:00 +0530 Tue, 21 Jun 2011 13:42:00 +0530 TaxTMI RSS Generator Power of Central Government or Company Law Board to accord approval, etc., subject to conditions and to prescribe fees on applications https://www.taxtmi.com/notifications?id=23727 Companies declared as Nidhi or Mutual Benefit Societies are prohibited from pledging member lodged securities and from giving loans or advances exceeding the lower of a fixed loan ceiling and a specified proportion of total deposits. They must ensure that the total of their net owned fund and preference share capital meets a prescribed minimum, subject to revision by the Central Government in consultation with the Reserve Bank of India, with transitional time allowed for existing societies; interest rates on deposits and loans must conform to Reserve Bank regulations. Notifications Companies Law Mon, 20 Oct 1997 00:00:00 +0530 https://www.taxtmi.com/notifications?id=23727