Amendment status not verified — confirm the current text below against the official source.
Now see Companies Act, 2013 (Central Act No.18 of 2013). Conversion into a Society or Company. 86 [Act No.7 of 1964] Provided further that if the societies so converted into MACS Society or/ and incorporated into the Companies Act, 1956, do not return the assets and repays the dues to the Government within a period of six (06) months from the date of notification of this Amendment, the Government shall have the power to recover such assets and amounts from the formed company or society as arrears under Revenue Recovery Act, 1890.]