CHAPTER XXIII

 

GOVERNMENT COMPANIES

 
 
394.Annual reports on Government companies.

(1) Where the Central Government is a member of a Government company, the
Central Government shall cause an annual report on the working and affairs of that company
to be—
(a) prepared within three months of its annual general meeting before which the
comments given by the Comptroller and Auditor-General of India and the audit report
is placed under the proviso to sub-section (6) of section 143; and
(b) as soon as may be after such preparation, laid before both Houses of Parliament
together with a copy of the audit report and comments upon or supplement to the audit
report, made by the Comptroller and Auditor-General of India.
(2) Where in addition to the Central Government, any State Government is also a
member of a Government company, that State Government shall cause a copy of the annual
report prepared under sub-section (1) to be laid before the House or both Houses of the
State Legislature together with a copy of the audit report and the comments upon or
supplement to the audit report referred to in sub-section (1).
 
 
395.Annual reports where one or more State Governments are members of companies.

(1) Where the Central Government is not a member of a Government company,
every State Government which is a member of that company, or where only one State
Government is a member of the company, that State Government shall cause an annual report
on the working and affairs of the company to be—
(a) prepared within the time specified in sub-section (1) of section 394; and
(b) as soon as may be after such preparation, laid before the House or both
Houses of the State Legislature together with a copy of the audit report and comments
upon or supplement to the audit report referred to in sub-section (1) of that section.
(2) The provisions of this section and section 394 shall, so far as may be, apply to a
Government company in liquidation as they apply to any other Government company.

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