Section 25(2) in The Gresham And Craven Of Indian (Private) Limited (Acquisition And Transfer Of Undertakings) Act, 1977
(2)The Central Government, or the Braithwaite and Company Limited or the Government company 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.
