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Ashish (Querist)

24 December 2008 Q-1 What is the difference b/w 'public sector undertaking & govt company ' Give with examples?

Q-2 In the above question how much shares are held by the 'govt & psu'?

CA. Dashrath Maheshwari

CA. Dashrath Maheshwari (Expert)

25 December 2008 Definition of “Government company”.—For the purposes of this Act, Government company means any company in which not less than fifty-one per cent of the paid-up share capital is held by the Central Government, or by any State Government or Governments, or partly by the Central Government and partly by one or more State Governments and includes a company which is a subsidiary of a Government company as thus defined.

`Public company' means a company which: a) is not a private company; b) has a minimum paid-up capital of Rs 5 lakh or such higher paid-up capital as may be prescribed; c) is a private company, which is a subsidiary of a company which is not a private company.

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