Comany Act, 1956
This query is : Resolved
ritesh bhattad
(Querist)
06 October 2010
Can a Government company be private company?
Ajay Mishra
(Expert)
07 October 2010
Dear Mr. Ritesh
Government company is a company which either registered as a Private Company or as a Public company with the Registrar of Companies under the Companies Act, 1956, & the Government has taken over or purchased 51% or more capital of the company. The remaining capital may be taken over by the public.
Bharat Heavy Electricals Limited, Steel Authority of India Limited, etc are some examples of Government Company.
According to Section 617 of the Indian Companies Act, 1956, a Government company means, "any company in which not less than fifty one percent of the share capital is held by the Central Government or any State Government or partly by the Central Government and partly by one or more State Governments".
Regards
Government company is a company which either registered as a Private Company or as a Public company with the Registrar of Companies under the Companies Act, 1956, & the Government has taken over or purchased 51% or more capital of the company. The remaining capital may be taken over by the public.
Bharat Heavy Electricals Limited, Steel Authority of India Limited, etc are some examples of Government Company.
According to Section 617 of the Indian Companies Act, 1956, a Government company means, "any company in which not less than fifty one percent of the share capital is held by the Central Government or any State Government or partly by the Central Government and partly by one or more State Governments".
Regards
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