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.
So 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
CAclubindia
