Section 23(2) in Bolani Ores Limited (Acquisition of Shares) And Miscellaneous Provisions Act, 1978.
(2)Notwithstanding the provisions in the Companies Act, the Board of directors of the Steel Authority of India be deemed to be the Board of Directors of the dissolved company and the shareholders of the Steel authority of India shall be deemed to be the shareholders of the dissolved company for the purpose of adoption of the accounts, directors' report and completion of other formalities in accordance with the provisions of the Companies Act in this regard.
