https://www.taxtmi.com/notifications?id=24145 The amendment mandates that Nidhis incorporated on or before 26 July 2001 which had deposits above prescribed limits must restore the Net Owned Fund to Deposits ratio to the prescribed ceiling by either increasing Net Owned Funds or reducing deposits pursuant to a phased timetable based on the ratio position as on 31-3-2010. It also shortens a procedural period from 12 months to 06 months, raises a monetary threshold from 20,000 to 50,000, and increases a prescribed percentage from five per cent to seven and half per cent. en-us Wed, 03 Nov 2010 00:00:00 +0530 Thu, 30 Jun 2011 16:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=24145 The amendment mandates that Nidhis incorporated on or before 26 July 2001 which had deposits above prescribed limits must restore the Net Owned Fund to Deposits ratio to the prescribed ceiling by either increasing Net Owned Funds or reducing deposits pursuant to a phased timetable based on the ratio position as on 31-3-2010. It also shortens a procedural period from 12 months to 06 months, raises a monetary threshold from 20,000 to 50,000, and increases a prescribed percentage from five per cent to seven and half per cent. Notifications Companies Law Wed, 03 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/notifications?id=24145