Section 40(1) in The Maharashtra Non-Trading Corporations Act, 1959
(1)Save as otherwise provided in sub-section (2) and subject to the provisions of sub-sections (3) to (5),–(a)all investments made by a corporation on its own behalf shall be made and held by it in its own name; and(b)where any such investments are not so held at the commencement of this Act the corporation shall, within a period of one year from such commencement, either cause them to be transferred to, and hold them in, its own name, or dispose of them.
