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of <h1>Government-Owned Companies Exempt from Specific Companies Act Sections; Compliance with Parliamentary Procedures Ensured</h1> The notification GSR 577(E), dated 16-7-1985, issued under the Companies Act, 1956, specifies that certain sections of the Act-namely sections 43A, 149(2A), 205B, 263, 264, 265, 266, 307, 308, 316, 317, and 386-are not applicable to government companies where the entire paid-up share capital is held by the Central Government, State Government(s), or jointly by the Central and State Governments. This decision follows the procedural requirement of presenting the draft to both Houses of Parliament as stipulated by the Act.
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