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In Re: Kemira Laboratories ... vs Unknown on 25 January, 2007

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[Section 81] [Complete Act]
Central Government Act
Section 81(4) in The Companies Act, 1956
(4) 1 Notwithstanding anything contained in the foregoing provi- sions of this section, where any debentures have been issued to, or loans have been obtained from, the Government by a company, whether such debentures have been issued or loans have been obtained before or after the commencement of the Companies (Amendment) Act, 1963 , the Central Government may, if in its opinion it is necessary in the public interest so to do, by order, direct that such debentures or loans or any part thereof shall be converted into shares in the company on such terms and conditions as appear to that Government to be reasonable in the circumstances of the case, even if the terms of issue of such debentures or the terms of such loans do not include a term providing for an option for such conversion.