The British India Corporation Limited (Acquisition of Shares) Act

Transfer and vesting of shares of the Company in the Central Government

Management of the Company

Payment of amounts

Appointment of Commissioner of Payments

Payment by the Central Government to the Commissioner

Claims to be made to the Commissioner

Examination of claims

Admission or rejection of claims

Disbursement of money by the Commissioner to claimants

Undisbursed or unclaimed amount to be deposited to the general revenue account

Power of inspection

Power of Commissioner to inquire into disputes as to amount

Deposit of amount in court


ACQUISITION OF THE SHARES OF THE COMPANY


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).

LAWGIST

# 4 Management of the Company