Regarding company declared as Nidhi or Mutual Benefit Society under section 620A

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....reinafter referred to as such Nidhi or Mutual Benefit Society) shall, after the publication of this notification,-    (i)  carry on the business of chit fund, hire purchase, insurance or any business in shares or debentures;   (ii)  open any new branch in any place outside the local limits of the district wherein its Registered Office is located; (iii)  open any new current account with its members; (iv)  admit as member any body corporate or trust;   (v)  issue any new equity shares of nominal value exceeding rupees ten; (vi)  issue any new shares to any select group of persons other than bona fide depositors; (vii)  acquire control of any other company by way of a....

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....r less; (D)  fifteen lakh rupees, where the deposits of such Nidhi or Mutual Benefit Society from its members are more than fifty crore rupees :         Provided that no Nidhi or Mutual Benefit Society shall give to any borrower loans and advances exceeding seven lakh fifty thousand rupees if such Nidhi or Mutual Benefit Society had not made profits in the three preceding years. (xvi) be allowed to raise deposits beyond 20 crore of rupees but in  the case of Nidhis having deposits beyond this limit on the date of this notification shall not accept further deposit from such date :         Provided that where the deposits exceed the above limits (rupee....

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....; (xxii)  grant loan to a director for an amount exceeding fifteen lakh rupees as per the existing limits :           Provided that in a case where a director had been given a loan for an amount exceeding fifteen lakh rupees by any such Nidhi or Mutual Benefit Society, such Nidhi or Mutual Benefit Society shall recall the loan to bring the aggregate amount of loan to fifteen lakh rupees within a period of one year;   (b)  every such Nidhi or Mutual Benefit Society shall, after the publication of this notification-    (i)  ensure that its membership is not reduced to less than two thousand members at any time;   (ii)  obtain certificate every ....

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.... period of two years of ceasing to hold the post of director :         Provided further that in case more than three directors vacate their office in the current year, then, two-thirds of such directors shall vacate their office in the same current year and one-third in the successive year; (vi)  maintain a contingent fund by transferring half per cent of each deposit to such fund; (vii)  keep the entire amount in the contingent fund referred to in sub-clause (vi) of this clause, in any nationalised bank; (viii) in case of default in making refund of deposit to more than ten depositors, allow to monitor its working by a special officer appointed by the Central Government; (ix)&nbsp....