Auditor not to be appointed except with the approval of the company by special resolution in certain cases.

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..... subscribed share capital is held, whether singly or in any combination, by___ (a) a public financial institution or a Government company or Central Government or any State Government, or (b) any financial or other institution established by any Provincial or State Act in which a State Government holds not less than fifty-one per cent of the subscribed share capital, or (c) a nationalised ba .....

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..... " means a corresponding new bank as defined in the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970) [2][or in the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980).] --------------------------------------- Notes:- [1] Inserted by the Companies (Amendment) Act, 1974, Act 41 of 1974, section 24, w.e.f. 1-2-1975. [2] Inserted by .....

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