On October 4, 2004, the Ministry of Company Affairs issued a notification (G.S.R 655(E)) rescinding the status of M/s. Singh Mutual Benefit Company Limited, Haldwani, Nainital, as a Nidhi Company. This decision was based on findings from an inspection report and information from the Reserve Bank of India, which indicated that the company was not operating as a Nidhi Company.
MINISTRY OF COMPANY AFFAIRS
NOTIFICATION
New Delhi, the 4th October, 2004
G.S.R 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 `NIDHU vide notificatrion 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 18th March, 1993 was published in the Gazette of India dated the 27th March, 1993 in Part 11. Section 3, Sub-section (i).
