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<h1>Exemption for Government Financing Companies Under Companies Act: Section 372 Inapplicable with State Special Advances for Private Industries</h1> GSR 990, dated August 9, 1975, issued under the Companies Act, 1956, specifies that section 372 of the Act does not apply to government companies established for financing purposes. This exemption is applicable when a State Government has made or agreed to make a special advance to such companies for providing loans or advances to, or subscribing to the capital of, private industries or enterprises in India.