- These rules shall apply to, -(a)every company which had been declared as a Nidhi or Mutual Benefit Society under sub-section (1) of section 620A of the Companies Act, 1956;(b)every company functioning on the lines of a Nidhi company or Mutual Benefit Society but has either not applied for or has applied for and is awaiting notification to be a Nidhi or Mutual Benefit Society under sub-section (1) of section 620A of the Companies Act, 1956; and(c)every company incorporated as a Nidhi pursuant to the provisions of section 406 of the Act.(d)[ every company declared as Nidhi or Mutual Benefit Society under sub-section (1) of section 406 of the Act] [Inserted by Notification No. G.S.R. 467(E), dated 1.7.2019 (w.e.f. 31.3.2014).]
