[Notification Date: 26.03.2014; Effective from: 01.04.2014]
Section 395- Annual reports where one or more State Governments are members of companies. [Corresponds to Section 619A of the Companies Act, 1956]
(1) Where the Central Government is not a member of a Government company, every State Government which is a member of that company, or where only one State Government is a member of the company, that State Government shall cause an annual report on the working and affairs of the company to be—
(a) prepared within the time specified in sub-section (1) of section 394 ; and
(b) as soon as may be after such preparation, laid before the House or both Houses of the State Legislature together with a copy of the audit report and comments upon or supplement to the audit report referred to in sub-section (1) of that section.
(2) The provisions of this section and section 394 shall, so far as may be, apply to a Government company in liquidation as they apply to any other Government company.