Section 7(1) in The Jayanti Shipping Company (Acquisition Of Shares) Act, 1971
(1)Notwithstanding anything contained in the Companies Act, 1956 (1 of 1956), or in the memorandum or articles of association of the company, on and from the appointed day and till a new Board of directors of the company is duly constituted, the persons specified in the Schedule shall be the directors of the company and shall constitute the Board of directors of the company.
