02 August 2016
Government Company: means any Company in which not less than 51% (fifty one per cent). of the paid-up share capital is held by:-
♠ The Central Government, or Any State Government or Governments, or Partly by the Central Government and partly by one or more State Governments, or includes a Company which is a Subsidiary Company of such a Government Company;
My query is.. one company A ltd. is a public limited which 30% stake held by state govt. directly and 10% held by government bodies and one another Government Company wants to hold 15% stake of that company. my question is, Can a Government company can hold stake of A ltd. ?? If that govt. company will hold that stake then status of A ltd. will be called Government ?? please suggest
03 August 2016
what is your exact query/difficulty? Are you interested in knowing whether Govt company OR How govt company? whether......the answer is yes. How?..... Govt normally does not acquire any company by such method...rather, It floats a new company Forming a govt company by acquiring shares in private/public company is not the way followed by Govt.
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