(8)[ The Central Government may, if it considers it necessary for avoiding any hardship or for any other just and sufficient reason, by order, issued either prospectively or retrospectively from a date not earlier than the commencement of the Companies (Amendment) Act, 1974 (41 of 1974), grant extension of time to a company or class of companies to comply with, or exempt any company or class of companies from, all or any of the provisions of this section either generally or for any specified period subject to such conditions as may be specified in the order:Provided that no order under this sub-section shall be issued in relation to a class of companies except after consultation with the Reserve Bank of India.] [Inserted by Act 46 of 1977, Section 3 (w.e.f. 24.12.1977). ]
