Exemption from company accounts clause for government industry promotion companies, with disclosure required for specified income items. The Central Government directs that clause (b) of sub section (3) of section 209 of the Companies Act, 1956 shall not apply to government companies promoting and developing industries in relation to interest on seed money or bridge loans, interest on instalments for industrial plots or sheds, and claims for special handloom sale rebates, provided any such accrued income not accounted for is disclosed by note in the company's annual accounts.
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.
Exemption from company accounts clause for government industry promotion companies, with disclosure required for specified income items.
The Central Government directs that clause (b) of sub section (3) of section 209 of the Companies Act, 1956 shall not apply to government companies promoting and developing industries in relation to interest on seed money or bridge loans, interest on instalments for industrial plots or sheds, and claims for special handloom sale rebates, provided any such accrued income not accounted for is disclosed by note in the company's annual accounts.
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