(1)Where the Central Government is a member of a Government company, the Central Government shall cause an annual report on the working and affairs of that company to be-(a)prepared within three months of its annual general meeting before which the audit report is placed under sub-section (5) of section 619; and(b)as soon as may be after such preparation, laid before both Houses of Parliament together with a copy of the audit report and any comments upon, or supplement to, the audit report, made by the Comptroller, and Auditor-General of India.(2)Where in addition to the Central Government, any State Government is also a member of a Government company, that State Government shall cause a copy of the annual report prepared under sub-section (1) to be laid before the House or both Houses of the State Legislature together with a copy of the audit report and the comments or supplement referred to in sub-section (1).(3)Where the Central Government is not a member of a Government company, every State Government which is a member of that company, or where only one State Government is a member of the company, that State Government shall cause an annual report on the working and affairs of the company to be-(a)prepared within the time specified in sub-section (1); and(b)as soon as may be after such preparation, laid before the House or both Houses of the State Legislature with a copy of the audit report and comments or supplement referred to in sub-section (1).](4)[ The provisions of this section shall, so far as may be, apply to a Government company in liquidation as they apply to any other Government company.] [ Inserted by Act 31 of 1988, Section 58 (w.e.f. 15.6.1988).]
