Power to modify Act in its application to Nidhis etc. - Notified Nidhis - GSR 655(E). - Companies Law

MINISTRY OF COMPANY AFFAIRS NOTIFICATION New Delhi, the 4 th October, 2004 Subject:- Power to modify Act in its application to Nidhis etc. - Notified Nidhis GSR 655(E).- In exercise of the powers conferred by sub-sections (1) and (2) of section 620A of the Companies Act, 1956 (1 of 1956) and on the basis of material available in the Inspection Report carried out under section 209A of the said Act as well as on the information furnished by Reserve Bank of India, the Central Government having satisfied that the company, namely M/s. Singh Mutual Benefit Company Limited, Haldwani, Nainital does not function as a Nidhi Company, hereby rescinds the declaration granted to the above named company as NIDHI vide notification of the Government of India, erstwhile Ministry of Law, Justice and Company Affairs (Department of Company Affairs) G.S.R. 163, dated the 18th March, 1993 with effect from the date of publication of this notification. [F. No. 5/29/2004-CL-V] JITESH KHOSLA, Jt. Secy. Note:- The Notification G.S.R. 163 dated 18 th March, 1993 was published in the Gazette of India dated the 27 th March, 1993 in Part II, Section 3 sub-sectiuon (i).