Section 4
Management of the Company.
The British India Corporation Limited (Acquisition of Shares) Act, 1981
About this Act
An Act to provide for the acquisition of certain shares of the British India Corporation Limited with a view to securing the proper management of the affairs of the Company and the continuity and development of the production of goods which are vital to the needs of the country and for matters connected therewith or incidental thereto.
For the purpose of enabling the Company to function as a
Government company, the Central Government may, by notification, make such provisions (including
changes in the Board of Directors, and amendments in the memorandum and articles of association, of the
Company) as it may consider necessary and the provisions so made shall have effect notwithstanding
anything contained in the Companies Act, 1956 (1 of 1956).