550

THE GAZETTE OF INDIA : EXTRAORDINARY

[PART II—SEC. 3(ii)]

MINISTRY OF INDUSTRY

(Department of Industrial Development)

ORDER

New 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.

Sections 166 and 210(1) :

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

PRINTED BY THE MANAGER, OOVT. OF INDIA PRESS, RINO ROAD, NEW DELHI-110064

AND PUBLISHED BY THE CONTROLLER OF PUBLICATIONS, DELHI-110054,

1981