As per section 406 of company act 2013. ‘Nidhi’ means a company which has been incorporated as a Nidhi with the object of cultivating the habit of thrift and savings amongst its members, receiving deposits from, and lending to, its member only, for their mutual benefit, and which complies with such rules as are prescribed by Central Government for regulation of such class of companies. Save as otherwise expressly provided, the Central Government may, by notification, direct that any of this Act shall not apply, or shall apply with such exceptions, modifications and adaptations as may be specified in that notification, to any Nidhi or Nidhis of any class or description as may be specified in that notification. A copy of every notification proposed to be issued under sub-section (2), shall be laid in draft before each House of Parliament, while it is session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in disapproving the issue of the notification or both Houses agree in making any modification in the notification, the notification shall not be issued only in such modified form as may be agreed upon by both the Houses