Provisions of s. 209(3)(b) of Companies Act not to apply to Government comapnies engaged in the business of financing industrial projects and approved by the Central Government under section 36(1)(viii) of the Income-tax Act, 1961

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..... es engaged in the business of financing industrial projects and approved by the Central Government under section 36(1)(viii) of the Income-tax Act, 1961 Notification Number: 0550(E) Dated 16-05-1989 In exercise of the powers conferred by sub-section (1) of section 620 of the Companies Act, 1956 (1 of 1956), the Central Government hereby directs that the provisions of clause (b) of su .....

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