Section 394 — Annual reports on Government companies

(1) Where the Central Government is a member
of a Government company, the Central Government shall cause an annual report on the working and affairs
of that company to be—
(a) prepared within three months of its annual general meeting before which the comments given
by the Comptroller and Auditor -General of India and the audit report is placed under the proviso to
sub-section (6) of section 143; and
(b) as soon as may be after such preparation, laid before both Houses of Parliament together with
a copy of the audit report and comments upon or supplement to the audit re port, made by the
Comptroller and Auditor-General of India.
(2) Where in addition to the Central Government, any State Government is also a member of a