Section-395 annual reports where one or more State Governments are members of companies

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Section-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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