Amended and updated notes on section 395 of Companies Act 2013. Detail discussion on provisions and rules related to annual reports where one or more State Governments are members of companies.
Chapter XXIII (Section 394–395) of the Companies Act, 2013 (CA 2013) deals with the provisions related to Government Companies. Section 395 of CA 2013 provides for annual reports where one or more State Governments are members of companies.
Recently, we have discussed in detail section 394 (Annual reports on Government companies) of CA 2013. Today, we learn the provisions of section 395 of the Companies Act 2013.
The provisions of section 395 are effective from 12th September, 2013. You may refer Notification No. S.O. 2754(E) issued dated 12-09-2013. In this article, you will learn detail of the provisions of section 395 the Companies Act 2013.
| Name of Act | The Companies Act 2013 |
|---|---|
| Enacted by | Parliament of India |
| Administered by | Ministry of Corporate Affairs (MCA) |
| Number of Chapters | 29 |
| Number of Sections | 484 (470-43+57) |
| Number of Schedules | 7 |
| You are reading: | |
| Chapter No. | XXIII |
| Chapter Name | Government Companies |
| Section No. | 395 |
| Section Name | Annual reports where one or more State Governments are members of companies |
| Monthly Updated Edition | Company Law PDF |
Section 395 of Companies Act 2013: Annual reports where one or more State Governments are members of companies
Section 395 shall come into force on 12th September, 2013 vide Notification No. S.O. 2754(E) dated 12.09.2013.
(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.