No.5/29/99-CL.V

Government of India

Ministry of Law, Justice & Company Affairs

Department of Company Affairs

Shastri Bhavan, 5th Floor, `A’ Wing,

New Delhi – 110 001. Dt. 10.09.1999.

PRESS NOTE NO. 10/99

Subject: - Applications pending with the Department of Company Affairs under Section 620A of the Companies Act, 1956

According to section 620A(I) of the Companies Act, 1956 "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.

    1. A large number of applications from Companies seeking such declaration are pending in the Department of Company Affairs which are under process in consultation with Reserve Bank of India. Final decision on these application would be taken by the Department of Company Affairs as and when clearance is received from R.B.I.

3. This press note is issued for information of all the applicant Companies.

4. The press note is also available at the Web-site of the Department of Company Affairs at the following address: http//www.nic.in/dca.

 

(R.D. Joshi)

Joint Secretary to the Govt. of India.

Ph: 3381226

Copy to: Shri M.Y. Siddiqui, IO, Press Information Bureau, Shastri Bhavan, New Delhi with the request that the Pess Note may kindly be given wide publicity.

(R.D. Joshi)

Joint Secretary to the Govt. of India.