Power of Central Government or Company Law Board to accord approval, etc., subject to conditions and to prescribe fees on applications

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..... approval, etc., subject to conditions and to prescribe fees on applications GSR 603(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 directs that-- (a) no company declared as a Nidhi or Mutual Benefit Society under section 620A of the said Act, before the date of this notification (hereinafter referre .....

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..... -- (A) a period of three years from the date of this notification ; or (B) such further period as the Central Government may, after recording the reasons in writing for so doing, extend : Provided further that when the minimum limit of the total net owned fund and preference share capital is enhanced beyond ten lakh rupees in future, the Nidhis and Mutual Benefit Societies shall be given reaso .....

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