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TMI BlogPower to modify Act Notification notifying provisions of the Act as not applicable or applicable with modification in relation to nidhis, etc.X X X X Extracts X X X X X X X X Extracts X X X X ..... Nidhi Ltd., Madras 4. Chennai Sri Andal Dhanasekara Saswatha Nidhi Ltd., Madras 5. Chennai Sri Ekambareswarar Saswatha Nidhi Ltd., Madras 6. Chidambaram Hindu Saswatha Jananukula Nidhi Ltd., Madras 7. Chingleput Dhanasekara Nidhi Ltd., Madras 8. Choolai Janopakara Nidhi Ltd., Madras 9. Conjeevaram Hodsonpet Dhanasekara Nidhi Ltd., Madras 10. Cuddalore Permanent Fund Ltd., Madras 11. Egmore Benefit Society Third Branch Ltd., Madras 12. Kumbakonam Mutual Benefit Fund Ltd., Madras 13. Madras Catholic Permanent Fund Ltd., Madras 14. Madras Christian Benefit Fund Ltd., Madras 15. Madras Mutual Benefit Permanent Fund Ltd., Madras 16. Madras Purasawalkam Hindu Janopakara Saswatha Nidhi or the Permanent General Benefit Fund Ltd., Madras 17. Madura Hindu Permanent Fund Ltd., Madras 18. Muthialpet Benefit Fund Ltd., Madras 19. Mylapore Hindu Permanent Fund Ltd., Madras 20. Nagapatnam Permanent Fund Ltd., Madras 21. Nungambakkam Saswatha Dhana Rakshaka Nidhi Ltd., Madras 22. Pudupakkam Permanent Fund Ltd., Madras 23. Purasawalkam Dhana Vardhana Saswatha Nidhi Ltd., Madras 24. Purasawalkam Hindu Santhatha Sanga Nidhi Ist Branch Ltd ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d Ltd. 69. Kumbakonam Diocesan Catholics Permanent Fund Ltd. 70. Matha Vara Nidhi Ltd. 71. Amritsar Radhasaomi Finance Co. (P.) Ltd. 72. Nambalam Benefit Society Ltd. 73. Makkal Nala Abivirthi Niddhi Ltd. 74. Kilpank Benefit Society Ltd. 75. Samarasa Mutual Benefit Fund Ltd. 76. Chromepet Saswatha Nidhi Ltd. 77. Sri Raja Raja Cholan Mutual Benefit Fund Ltd. 78. Palghat Permanent Fund Ltd. 79. Grama Nala Saswatha Nidhi Ltd. 80. Kondan Mutual Benefit Fund Ltd. 81. Sri Saithai Mutual Benefit Fund Ltd. 82. Mini Mutual Benefit Fund Ltd. 83. Annanagar Janopakara Nidhi Ltd. 84. Dhanalakshmi Funds (India) Ltd. 85. Aminjikarai Benefit Fund Ltd., Madras 85. Aminjikarai Benefit Fund Ltd., Madras 86. 87. Jawahar Nagar Nidhi (Madras) Ltd. 88. Shenoy Nagar Saswatha Nidhi Ltd., Madras 89. 90. 91. Kayanat Permanent Fund Ltd. 92. Piravom Funds Ltd. 93. Chennapuri Mutual Benefit Fund Ltd. 94. Chetpet Saswatha Nidhi Ltd. 95. Royapettah Benefit Fund Ltd. 96. Shenoy Nagar Benefit Fund Ltd. 97. Kalaimagal Mutual Benefit Fund Ltd. 98. Mini Muthoottu Mutual Funds Ltd. 99. Dravidian Benefit Fund Ltd. 100. Ashoknaga ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed, New Delhi 177. Pallavan Mutual Benefit Fund Limited, Madras 178. Devidas Finance Limited, Puttur 179. Thiru-Vi-Ka Nagar Benefit Fund Limited, Madras 180. Kumari Benefit Fund Limited, Madras 181. Vellavedu Benefit Fund Limited, Vellavedu, Tamil Nadu 182. Promptekk Benefit Fund Limited, Madras 183. Sarvajana Benefit Fund Limited, Madras 184. Sri Muthukumaraswamy Permanent Fund Limited, Madras 185. Perfect Benefit Fund Limited, Madras 186. Trichy Rockcity Benefit Fund Limited, Trichy, Tamil Nadu 187. Vedaraniam Benefit Fund Limited, Vedaraniam, Tamil Nadu 188. Crystal India Mutual Benefits Limited, District Nainital, Uttar Pradesh 189. Gowthami Permanent Fund Limited, Kakinada, Andhra Pradesh 190. Kaveripatnam Benefit Fund Limited, Dharmapuri, Tamil Nadu 191. Shri Shanthi Nath Benefit Fund Limited, Villupuram, Tamil Nadu 192. Veejay Benefit Fund Limited, Madras. 193. Chepauk Benefit Fund Limited, Chennai 194. Baggyalakshmi Benefit Fund Limited, Chennai 195. Samayapuram Mariamman Benefit Fund Limited, Trichy, Tamilnadu 196. Lakshmipuram Benefit Fund Limited, Tiruninravur, Chennai 197. Sri Devigayathri Benefit Fund Limit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , Tamilnadu. 225. Sri Annamalai Benefit Fund Limited, 1st Floor, Annamalai Tower, 50, Kubera Street, Villupuram-605602, Tamilnadu. 226. Thendral Benefit Fund Ltd., No. 44, 6th Cross Street, M.K.B. Nagar, Chennai-600039. 227. T.V.R. Benefit Fund Limited, 66, East Main Street, Thiruvarur-610001, Tamilnadu. 228. Lalapet Benefit Fund Limited, 2/60 (New No. 2/87), Main Road, Lalapet-639105, Karur District, Tamilnadu. 229. Jeya Bharath Benefit Fund Limited, New No. 15(8), C.N.K. Road, Chepauk, Chennai-600005. 230. Twin Cities Permanent Fund Limited, 1-1-790, Ashok Nagar Extension, Gandhinagar, Hyderabad-500080, Andhra Pradesh. 231. Thiyagadurugam Benefit Fund Limited, No. 7, Kavarai Street, Thiyagadurugam-606206, Tamilnadu. 232. Sembiam Benefit Fund Limited, New No. 154 (Old No. 251), Paper Mills Road, Ist Floor, Perambur, Chennai-600011. 233. Vijaysubham Benefit Fund Limited, 117, North Car Street, Sirkali-609110, Tamilnadu. 234. Madurai City Benefit Fund Limited, 71, North Veli Street, Simmakkal, Madurai-625001, Tamilnadu. 235. Rajapalayam Benefit Fund Limited, 428-A, Ambalapuli Bazar, Ist Floor, Rajapalayam-626117, Tamilnadu. 236. Prakasam District ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2 602, Tamilnadu. 259. Business Benefit Company Limited, Transworld Towers, Business Lane, Andamukkam, Beach Road, Kollam-1, Kerala. 260. Kothattai Benefit Fund Limited, 369/1, Main Road, Pennadam-606 105, Tamilnadu. 261. Brindavan Nagar Benefit Fund Limited, Sree Venkateswara Nilayam, No. 71, Mahalakshmi Nagar, 5th Cross Street, Brindavan Nagar, Adambakkam, Chennai-600 088, Tamilnadu. 262. Sri Ambal Benefit Fund Limited, No. 6, Mela Sannadhi Street, Vedaranyam, Tamilnadu. 263. Erode Benefit Fund Limited, 116, Bazaar Street, Kavindapadi-638 455, Erode (RMS), Tamilnadu. 264. Sri Mangalam Benefit Fund Limited, 139, T.H. Road, Kaladipet, Thiruvottiyur, Chennai-19, Tamilnadu. 265. Sri Veerabathira Benefit Fund Limited, 76, Nanayakara Street, Nagapattinam-611 011, Tamilnadu. 266. Madras Harbour Benefit Fund Limited, New No. 5, (Old No. 9) Nyniappn Street, (behind Broadway Theatre), Mannady, Chennai-600 001, Tamilnadu. 267. Kumari Christavar Benefit Fund Limited, III-A, Joshua Street, Nagercoil-629 001, Tamilnadu. 268. Kannadasan Nagar Benefit Fund Limited, New No. 144-A, (Old No. 32A), T.H. Road, M.R. Nagar, Kodungaiyur, Chennai-600 118. 269. Kanya Benef ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... enefit Fund Limited, New No. 5, Old No. 2, Kulandai Gramani Street, Purasawakkam, Chennai - 600 084, Tamilnadu. 291. Nagai Sivasakthi Benefit Fund Limited, No. 20, Neela South Street, Nagapattinam - 611 001, Tamilnadu. 292. M/s. Purasaiwakkam Gangatheeshwarar Benefit Fund Limited, New No. 91 (Old No. 101), 1st Floor, Vellala Street, Purasaiwakkam, Chennai - 600 084. 293. M/s. Thiruvarangam Benefit Fund Limited, 2/C, S.V.Chari Road, Srirangam, Trichy - 620 006. 294. M/s. Servaroys Benefit Fund Limited, Flat No. 37/E, Karuneegar Street, Adambakkam, Chennai - 600 088. 295. M/s. Pothigai Benefit Fund Limited, 75/34, College Road, Ambasamudram - 627 401, Tamilnadu. 296. M/s. Tirupati Benefit Fund Limited, 559-A, Reddy & Reddy Colony, Tirupati - 517 501, Andhra Pradesh. 297. M/s. Surana Benefit Fund Limited, No. 14, Maniyam Kanda Swamy Street, Tindivanam-604 001, Tamilnadu. 298. M/s. Sri Girivaru Benefit Society Limited, New No. 1041, Old No. 525/2, Poonamallee High Road, Arumbakkam, Chennai - 600 106. 299. M/s. The Thiruvottiyur Benefit Fund Limited, 14, Sannadhi Street, Thiruvottiyur, Chennai - 600 019. 300. M/s. Sree Thanigaivelan Benefit Fund Limited, No. 14/G1, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lai Nagar, A.S. Pettai, Namakkal - 637 001, Tamilnadu. 321. M/s. Port City Benefit Fund Limited, No. 21-D/2, W.G.C. Road, Tuticorin-628 002. Tamilnadu. 322. M/s. Arcot Sri Mahaveer Benefit Fund Limited, No. 117, Bazar Street, Arcot - 632 503, Vellore District, Tamilnadu. 323. M/s. Perambur Benefit Society Limited, 14/196, Perambur Barracks Road, Chennai - 600 012. 324. M/s. Nirmal Krishna Benefit Fund Limited, Mathempala, Palukal P.O., K.K. District - 629 170, Tamilnadu. 325. M/s. Periapet Benefit Fund Limited, 1, Soodiammanpet Street, Saidapet, Chennai - 600 015. 326. M/s. Mangaiyaar Benefit Fund Limited, 7/54, Junction Main Road, Ideal Garden Complex, Five Road, Salem - 636 004, Tamilnadu. 327. M/s. Veer Mutual Benefits Limited, Delhi Road, New Hardwar-249 407. 328. M/s. KAY ESS ARR Benefit Fund Limited, 12/161, G.R. Complex, Theppakulam Street, Tiruchengode - 637 211, Namakkal District, Tamilnadu. 329. M/s. Vilavancode Benefit Fund Limited, "VBF Towers", Main Road, Marthandam - 629165, Tamilnadu. 330. M/s. Arunattu Benefit Fund Limited, New No. 399, Poonamalee High Road, Aminjikarai, Chennai - 600 029. 331. M/s. Padma Balaji Benefit Fund Limited, 103A, Ayya ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8 103, Thoothukudi District, Tamil Nadu. 353. M/s. Cape Benefit Fund Limited, Dr. Mathias Shopping Complex, Meenakshipuram Nagercoil-629 001, Tamil Nadu. 354. M/s. Kalkulam Benefit Fund Limited, Saraswati Bhawan, Kanjirathukonam, Mekkamandapam-629 166, Kanyakumari District, Tamil Nadu. 355. M/s. K.M.T. Benefit Fund Limited, Sornamahal Buildings, Main Bazaar, Nilakottai, Dindigul District. 356. M/s. R.K. Nagar Benefit Fund Limited, G. Sankaraval, 15, E.H. Road, Durgadevi Nagar, Tondiarpet, Chennai. 357. M/s. Navasakthi Vinayagar Benefit Fund Limited, Dhayalan Complex, 8-8A, Kamarajar Road, Mayiladuthurai-609 001, Tamil Nadu. 358. Nethaji Nagar Benefit Fund Ltd., 55/20-B, Main Street, Nethaji Nagar, Tondaiarpet, Chennai-600081. 359. Kanyakumari Benefit Fund Ltd., 49A, Vanchiathithan New Street, Vadasery, Nagercoil-629001. 360. Papanasam Benefit Fund Ltd., 11/4, South Main Street, Papanasam-614205. 361. Cine Technicians Kalaivannar NSK Benefit Fund Ltd., 130-A, NT Ramarao Street, Rangarajapuram, Kodambakkam, Chennai-600024. 362. Sri Ram Nallamani Yadava Benefit Fund Ltd., 70, TPK Road, Madurai-625011. 363. Little Kancheepuram Benefit Fund Ltd., 15, Kotrampalayam ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Street, Shenoy Nagar Chennai-600 030 (Tamil Nadu) 386 M/s Navanithi Benefit Fund Limited 9-3/186, Main Bazaar Uthamapalayam, Madurai District, Tamil Nadu - 626 533. 387 M/s Tiruninravur Mutual Benefit Fund Limited 12, Third Street, Vatsalapuram, Tiruninraver, R S Chiugleput, Tamil Nadu - 602 024 SCHEDULE II : MUTUAL BENEFIT SOCIETIES Every "mutual insurance company" as defined in clause (a) of sub-section (1) of section 95 of the Insurance Act, 1938 (4 of 1938). [Schedule III Provisions of Act Extent of Application (1) (2) Section 53(1) Shall apply subject to the modification that in the case of a Nidhi or Mutual Benefit Society a document may be served only on members who hold more than one thousand rupees in face value or more than one per cent of the total paid-up capital of the Nidhi company whichever is less. For other shareholders, document may be served by a public notice in newspaper circulated in the district where the Registered Office of a Nidhi Company is situated; and publication on the notice board of the Nidhi or Mutual Benefit Society. Section 67(3) proviso Shall not apply. Section 77(1) Shall not apply, when shares are purchased by the company ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . Section 296 Shall not apply provided the loan is given to a director or his relative in their capacity as members and such transaction is disclosed in the annual accounts by a note. Section 309(4) Shall apply with the modification that the remuneration of a director who is neither in the whole-time employment of the Nidhi or Mutual Benefit Society nor a managing director, for performing special services to the Nidhi or Mutual Benefit Society specified in the Articles of Association may be paid by way of monthly payment subject to the approval of the Central Government and also to the provisions of section 198 : Provided that no approval of the Central Government shall be required where,- (a) a Nidhi or a Mutual Benefit Society does not have a managing director or a whole-time director or a manager, (b) the remuneration payable during a financial year to all the directors of the Nidhi or the Mutual Benefit Society, as the case may be, does not exceed ten per cent of the net profits or such Nidhi or Mutual Benefit Society or five lakh rupees, whichever is less; and (c) a remuneration payable under clause (b) of this proviso is approved by a special resolution passed in this ..... 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