Government Companies - Power to modify Act ‑ Notifications notifying provisions of the Act as not applicable or applicable with modification in relation to Government companie - GSR 309, - Companies Law
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Government company exemption from section 370, subject to prior government approval before loans, guarantees or securities. Where the entire paid up capital of a company is held by the Central Government and its nominees or by a State Government and its nominees, section 370 shall not apply to that Government company; provided that such company must obtain the approval of the Central Government or the State Government, as the case may be, before making any loan or giving any guarantee or providing any security.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Government company exemption from section 370, subject to prior government approval before loans, guarantees or securities.
Where the entire paid up capital of a company is held by the Central Government and its nominees or by a State Government and its nominees, section 370 shall not apply to that Government company; provided that such company must obtain the approval of the Central Government or the State Government, as the case may be, before making any loan or giving any guarantee or providing any security.
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