said relief is available to the nidhi companies, which have positive net owned funds in the ratio of 1 : 20 and as certified by their ... Comp Cas (St.) 2.].
(ii) The net owned fund of the nidhi company is positive as on March 31, 1996.
(iii) The nidhi company
provisions of
section 45D
45I A. Requirement of registration and net owned fund.
(1) Notwithstanding anything contained in this
Chapter or in any other ... certificate of registration issued
under this Chapter; and
(b) having the net owned fund of twenty-five lakh
rupees or such other amount, not exceeding
provisions of
section 45D
45I A. Requirement of registration and net owned fund.
(1) Notwithstanding anything contained in this
Chapter or in any other ... certificate of registration issued under
this Chapter; and
(b) having the net owned fund of twenty-five lakh
rupees or such other amount, not exceeding
provisions of
section 45D
45I A. Requirement of registration and net owned fund.
(1) Notwithstanding anything contained in this
Chapter or in any other ... certificate of registration issued
under this Chapter; and
(b) having the net owned fund of twenty-five lakh
rupees or such other amount, not exceeding
granted to the respondents
were cancelled on the ground that Net Owned Fund (NOF) has not been
achieved in terms of Section ... said provision in its entirety.
“45IA. Requirement of registration and net
owned fund.-
(1) Notwithstanding anything contained in this
Chapter or in any other
commence or carry on
the business, unless it has a Net Owned Fund (in short, "NOF") of
twenty-five lakh rupees or such ... hereinbelow :
"45-IA. Requirement of registration and net owned fund -
(1) Notwithstanding anything contained in this Chapter or in any
other
business of a non-banking financial institution without having a net owned fund (NOF) of Rs. 25 lakhs, which is mandatory under Clause ... being heard.
Explanation: For the purpose of this section--
(I) "net owned fund" means--
(a) the aggregate of the paid-up equity capital
renewal of such deposit, exceeds, fifteen per cent of its net owned funds;
(ii) any other deposit, if the amount of such deposit, together with ... renewal of such deposit, exceeds twenty-five per cent of its net owned funds.
Explanation : For the purpose of this paragraph 'net owned funds
business of a non-banking financial institution without having a net owned fund of Rs.25 lakhs, which is mandatory under Clause ... passed on 6.8.2005 on the other following grounds:
(a) The net owned fund of the Company continued to be negative as against the required statutory
business of a non-banking
financial institution without having a net owned fund of Rs.25 lakhs, which is
mandatory under clause ... passed on
6.8.2005 on the other following grounds:
(a) The net owned fund of the Company continued to be negative as
against the required statutory
