32. Mr. Graham White
asked the Secretary of State for India the reason for the delay in the winding-up of the Bombay and Baroda Railways; what the present position is; and if the procedure is being carried out under the Companies Acts.
§ Mr. Amery
The delay is, I am informed, mainly due to difficulties in ascertaining the company's share of profits for the final period during which they managed the railway and in determining the company's final tax liabilities both in India and the United Kingdom. It is hoped to complete the winding-up in the course of the present year. The dissolution of the company is being carried out under the provisions of the Bombay Baroda and Central India Railway Act, 1942, not under the Companies Acts.
If my right hon. Friend's anticipation of an early settlement of this affair is not reached, would it be possible to issue an interim statement?