Section 24(2) in Anglo-French Textiles Limited (Acquisition and Transfer of Textile Undertaking) Act, 1986
(2)The Corporation shall not omit to ratify a contract, and shall not make any alteration or modification therein, except after giving to the parties to the contract a reasonable opportunity of being heard and except after recording in writing its reasons for refusal to ratify the contract or for making any alteration or modification therein.
