https://www.taxtmi.com/notifications?id=23905 The notification establishes comprehensive regulatory controls for companies declared as Nidhi or Mutual Benefit Society, restricting non core business activities, prescribing membership minima, annual auditor certification, minimum Net Owned Funds and controlled branch expansion. It caps aggregate deposits relative to Net Owned Funds, prescribes permitted deposit products and application disclosures, mandates minimum shareholding by depositors, requires specified bank term deposit investments, limits member lending by security type and ceilings, regulates director tenure and eligibility, constrains dividend declaration and empowers appointment of a Special Officer for breaches, with transitional timelines and limited Central Government exemptions. en-us Thu, 26 Jul 2001 00:00:00 +0530 Thu, 23 Jun 2011 15:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=23905 The notification establishes comprehensive regulatory controls for companies declared as Nidhi or Mutual Benefit Society, restricting non core business activities, prescribing membership minima, annual auditor certification, minimum Net Owned Funds and controlled branch expansion. It caps aggregate deposits relative to Net Owned Funds, prescribes permitted deposit products and application disclosures, mandates minimum shareholding by depositors, requires specified bank term deposit investments, limits member lending by security type and ceilings, regulates director tenure and eligibility, constrains dividend declaration and empowers appointment of a Special Officer for breaches, with transitional timelines and limited Central Government exemptions. Notifications Companies Law Thu, 26 Jul 2001 00:00:00 +0530 https://www.taxtmi.com/notifications?id=23905