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For the purposes of the present controversy, we will have to examine the amendments in sections 42 & 51 keeping in mind the above legislative intent.

10. After the Amendment Act 68 of 1993, section 42 reads as under:-

"42. Transfer of ships or shares - (1) No person shall transfer or acquire any Indian ship or any share or interest therein 1[at any time during which the security of India or of any part of the territory thereof is threatened by war or external aggression and during which a proclamation of emergency issued under clause (1) of article 352 of the Constitution is in operation] without the previous approval of the Central Government and any 1Amendment Act 68 of 1993, sec 3 (w.r.e.f. 27-10-1993) vrd 8 APPEAL LODG 508 OF 2013 transaction effected in contravention of this provision shall be void and unenforceable.