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PENDING CASES OF NIDHI COMPANIES

New Delhi ~ July 23, 2001

The Committee of experts set up by the Government on March 23 2000 under the Chairmanship of Shri P. Sabanayagam had submitted its report to the Government in September 2000. After careful consideration of the report and in consultation with Reserve Bank of India and representatives of Chamber of Nidhis/Benefit Funds the Government have finalised revised directions for Nidhi Companies which shall be notified very soon.

As on March 31 2001, 101 cases are pending at various stages. After implementation of these directions the pending applications shall be processed on merits. This information was given by the Minister of Law Justice and Company Affairs and Shipping Shri Arun Jaitley in a written reply to a question from Shri S. Agniraj in the Rajya Sabha today.



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