Section 394 of Companies Act, 2013

394. Annual reports on Government companies

(1) Where the Central Government is a member of a Government company, the

Central Government shall cause an annual report on the working and affairs of that company

to be—

(a) prepared within three months of its annual general meeting before which the

comments given by the Comptroller and Auditor-General of India and the audit report

is placed under the proviso to sub-section (6) of section 143; and

(b) as soon as may be after such preparation, laid before both Houses of Parliament

together with a copy of the audit report and comments upon or supplement to the audit

report, made by the Comptroller and Auditor-General of India.

(2) Where in addition to the Central Government, any State Government is also a

member of a Government company, that State Government shall cause a copy of the annual

report prepared under sub-section (1) to be laid before the House or both Houses of the

State Legislature together with a copy of the audit report and the comments upon or

supplement to the audit report referred to in sub-section (1).

Complete: companies-act-2013