TaxTMI 
TaxTMI 
Amendments in Notification No. GSR 555(E), dated 26-7-2001- Nidhis - Power to modify Act in its application to
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.... 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, published in the Gazette of Indi....
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....uted, 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) More than 1 : 25 but up to 1 : 40 By 31-3-2005 By 31-3-2007 (c) More than 1 : 4....
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.... (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; Explanation.--any break in continuous service as director of less than two years would be construed as holding office continuously: Provided that where the tenure of any director was already extended by Regulatory Authority, it sha....