Government company
This query is : Resolved
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
♠ 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
Amol S Joglekar
(Expert)
02 August 2016
if the holding of Govt exceeds 51 %, A ltd will be regarded as Govt Company
02 August 2016
sir, but government company can hold stake ??? bcz definition includes subsidiary of govt company .
Amol S Joglekar
(Expert)
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.
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.
Amol S Joglekar
(Expert)
03 August 2016
ok...you are most welcome.
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