Annual reports where one or more State Governments are members of companies
(1)
Where the Central Government is not a member of a Government companyGovernment 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.