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2007 (7) TMI 407 - HIGH COURT OF PATNAWinding up - three companies would be held to be inter-State corporations - Held that:- In the present case, neither the law has been enacted nor the agreement has been reached between the successor States nor any direction has been issued by the Central Government. In the circumstances, according to this court, notwithstanding the provisions contained in the Companies Act, the aforesaid Government companies, by virtue of the provisions contained in sub-section (4) of section 46 and sub-section (1) of section 65 of the Bihar Reorganisation Act, have to function in the areas in which they were functioning immediately before the appointed day until a law is framed, an agreement is reached between the successor States or directions are issued by the Central Government. The Bihar Reorganisation Act, 2000, being a Central Act was not required to be brought within the Schedule to the Inter-State Corporations Act by exercising the enabling powers contained in section 5 of the said Act. In the circumstances, the winding up petitions filed to wind up the aforesaid three Government companies, Bihar State Small Industries Corporation Ltd., Bihar State Pharmaceutical and Chemical Development Corporation Ltd., and Bihar State Agro-Industries Development Corporation are dismissed.
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