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CS Executive · Company Law and Practice · Annual Report - Concepts

Under Section 394, the Central Government has caused an annual report to be prepared for a Government company in which it is a member. Before whom must this report be laid, and with what?

The report is laid before both Houses of Parliament, together with a copy of the audit report and the comments upon or supplement to the audit report made by the Comptroller and Auditor-General of India, as soon as may be after it is prepared.

  1. ABoth Houses of Parliament, with a copy of the audit report and the CAG's comments or supplementCorrect
  2. BThe Lok Sabha only, with the company's board report
  3. CBoth Houses of Parliament, with the Registrar's inspection report
  4. DThe Tribunal, with the audit report

Explanation

Section 394(1)(b) requires the report to be laid, as soon as may be after preparation, before both Houses of Parliament together with a copy of the audit report and the CAG's comments upon or supplement to it. Laying before one House only or before the Tribunal is not what the section provides.

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