Notification to prohibit the appointment of sole selling agents as per the power vested under section 294AA of the companies Act 1956 - G.S.R. 601(E). - Companies Law

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY PART - II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS Notification New Delhi, the 16 th July, 2010 Subject:- Notification to prohibit the appointment of sole selling agents as per the power vested under section 294AA of the companies Act 1956 G.S.R. 601(E).- In exercise of the powers conferred by sub-section (1) of section 294AA of the Companies Act, 1956 (1 of 1956), the Central Government, being of the opinion that the demand for the category of goods specified in the Table below is substantially in excess of the production or supply of such goods and that the services of the sole selling agents will not be necessary to create a market for such goods, hereby declares that sole selling agents shall not be appointed by any company for the sale of such goods in India 1 [ for a period of six years ] from the date of publication of this notification in the Official Gazette. Table Every category of Bulk drugs , drugs and formulations as defined in the Drugs (Prices Control) Order, 1995, not being,- (i) any bona fide preparation included in the Ayurvedic (including Siddha) or Unani (Tibb) systems of medicine; or (ii) any preparation included in the Homoeopathic system of medicine. [F. No. 5/2/2007-CL-V] RENUKA KUMAR, Jt. Secy. *********** NOTES:- 1. Substituted vide Notification No GSR. 487(E) dated 15-07-2013 before it was read as for a period of three years