Section 406 of Companies Act, 2013 – Power to modify Act in its application to Nidhis

SECTION 406. POWER TO MODIFY ACT IN ITS APPLICATION TO NIDHIS [Effective from 1st April, 2014] [9][(1) In this section, "Nidhi" or "Mutual Benefit Society" means a company which the Central Government may, by notification in the Official Gazette, declare to be a Nidhi or Mutual Benefit Society, as the case may be. (2) The… Read More