Amendment status not verified — confirm the current text below against the official source.
Dissolution of Board.- (1) No provision of law other than this Act, relating to the winding up, dissolution or liquidation of the companies or corporations shall apply to the Corporation. (2) The State Government may, if the Corporation exceeds its powers, or upon receipt of a report under section 27, call upon the Board to show cause why it should not be dissolved, and if no explanation is offered within the specified period, or if the State Government is not satisfied with the explanation, it may dissolve the Board from such date as may be specified.