Amendments in Notification No. GSR 555(E), dated 26-7-2001- Nidhis - Power to modify Act in its application to

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....t in its application to GSR 202(E).-In exercise of the powers conferred by sub-section (1) of section 637A of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following further amendments in the Notification of the Government of India, the erstwhile Ministry of Law, Justice and Company Affairs (Department of Company Affairs) No. G.S.R. 555(E), dated 26-7-2001, publis....

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....the first proviso, for the table, the following shall be substituted, namely:- TABLE Ratio of Net Owned Fund to Deposits (as on 31-3-2001) Date by which the company was required to achieve the prescribed ceiling of 1 : 20 Extended date by which the Company has to achieve the prescribed ceiling of 1 : 20 (a) More than 1 : 20 but up to 1 : 25 By 31-3-2004 By 31-3-2007 (b) Mor....

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....n item (ii), for the words 'seven and half per cent' the words 'five per cent' shall be substituted; (vi)  in sub-clause (i),   (a)  in item (i), for sub-item (A), the following shall be substituted, namely:-         "(A) have any person as director for a continuous period of more than ten years;       &nbs....