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of <h1>New Notification Modifies Section 594 of Companies Act for Foreign Shipping and Airline Companies' Financial Disclosures in India.</h1> The notification outlines exceptions and modifications to sub-section (1) of section 594 of the Companies Act, 1956, as it applies to foreign shipping or airline companies. These companies must submit authenticated financial documents to the Registrar of Companies in India. However, certain disclosures are exempted, such as specific earnings details, unrealized debts, and classifications of loans. Compliance is deemed sufficient if documents are audited by the company's foreign auditors. The Central Government retains the right to request additional financial information. This notification supersedes a prior directive from 1957.
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