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[Cites 0, Cited by 0] [Section 11] [Entire Act]

Union of India - Subsection

Section 11(2) in Nidhi Rules, 2014

(2)In the case of companies covered under clauses (a) and (b) of rule 2 and existing on or before 26th July, 2001 and which have accepted deposits in excess of the aforesaid limits, the same shall be restored to the prescribed limit by increasing the Net Owned Funds position or alternatively by reducing the deposit according to the table given below:Table
Ratio of Net Owned Funds to Deposits (as on31.3. 2013) Date by which the company has to achieveprescribed ceiling of 1:20
a) More than 1:20 but upto 1:35 By 31.3. 2015
b) More than 1:35 but upto 1:45 By 31.3. 2016
c) More than 1:45 By 31.3. 2017