The Gazette of India
EXTRAORDINARY
PART II—Section 3—Sub-section (ii)
PUBLISHED BY AUTHORITY
No. 179] NEW DELHI, THURSDAY, APRIL 30, 1981/VAISAKHA 10, 1903
Separate paging is given to this Part in order that it may be filed as a separate compilation
550 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] MINISTRY OF INDUSTRY Sections 166 and 210(1) : (Department of Industrial Development) ORDERNew Delhi, the 30th April, 1981
S.O. 324 (E).—Whereas by the Order of the Government of India in the Ministry of Industry (Department of Industrial Development) No. S.O. 641(E)/18FA/IDRA/78 dated the 10th November, 1978, the Central Government has authorised the West Bengal Pharmaceutical and Phytochemical Development Corporation Limited, Calcutta, to take over the management of the whole of the industrial undertaking, namely Messrs Dr. Paul Lohmann 0ndia) Limited, Calcutta, for a period of three years.
Now, in exercise of the powers conferred by sub-section (2) of section 18E of the Industries (Development and Regulation) Act, 1951 (65 of 1951), the Central Government hereby specifies, in the Schedule annexed hereto the exceptions, restrictions and limitations, subject to which the Companies Act, 1956 (1 of 1956) shall, so long as the management of the industrial under- taking remains vested in tho Central Government, apply to the said industrial undertaking In the same manner as it applied to It before the issue of the Order under section 18FA/18AA.
SCHEDULE
Provision of the Companies Act, 1956 :
Exceptions, Restrictions and Limitations subject to which the provision mentioned in Column 1 shall apply to the under- taking.
The Company is exempted from the operation of sub-section (1) of Section 210 and Section 166 of the Companies Act, 1956 to the extent that tho Balance Sheet and Profit and Loss Account of the company need not be placed before the Annual Genera Meeting. The Company will have to prepare the Balance Sheet and Profit and Loss Account as usual within the pres- cribed time but is not required to place the same before the Annual General Meeting. The Company will file its Statutory returns and Balance Sheets with the Registrar of Companies. The exemption does not affect the provisions of Section 159(1) of the Companies Act, 1956.
Section 224 and 225 :
The Company is exempted from operation of the provisions of Sections 224 and 225 of the Companies Act subject to the condition that the auditor shall bo appointed by the Govern- ment in the Department under whose adminisrtative control the company may be.
Sections 198, 268, 269, 309, 310, 3U, 388 and 640(B) :
The Company is exempted from operation of the provisions of Section 198, 268, 269, 309, 310, 311 and 640(B) of the Com- panies Act, 1956 subject to the condition that the appointment of Managerial personnel and fixation of their remuneration "hall be made by the Government in the Department under whose administrative control tho Company may bo.
[File No, 4(2)/80—Cus.]
R. N. CHOPRA, Addl. Secy