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of <h1>Rural Electrification Corp. exempt from section 209(3)(b) of Companies Act 1956 for interest income accounting disclosure.</h1> The Central Government has issued a directive exempting Rural Electrification Corporation Ltd., Delhi, from the requirements of section 209(3)(b) of the Companies Act, 1956, regarding the maintenance of books of account. This exemption pertains specifically to income from interest on loans and advances. The company, a government entity involved in financing rural electrification projects, must disclose any such unaccounted accrued income in the annual accounts through a note. This notification is formalized under G.S.R. 594(E) dated July 25, 1994.
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