Power to modify Act ‑ Provisions of the Act as not applicable or applicable with modification in relation to Government companies - GSR 581(E), - Companies Law

Notification : No. GSR 581(E), dated 16 ‑ 7 ‑ 1985. Subject:- Power to modify Act ‑ Provisions of the Act as not applicable or applicable with modification in relation to Government companies GSR 581(E).- In exercise of the powers conferred by sub‑section (1) of section 620 of the Companies Act, 1956 (1 of 1956), and in supersession of the Notification of the Government of India in the Ministry of Law, Justice and Company Affairs (Department of Company Affairs) No. SO 729, dated the 24th May, 1978 except as respects things done or omitted to be done before such supersession the Central Government hereby directs that section 295 of the said Act shall not apply to a Government company: Provided that such company shall obtain the approval of the Ministry or Department of the Central Government which is administratively in charge of the company, or, as the case may be, the State Government.