16 November 2009
I have a doubt about a Government Company and a Corporation. Are these companies formed under the Companies Act, 1956 or under some other statutes?
16 November 2009
The Government Company is formed under Companies Act. Corporation is formed under Act of Parliament. (Eg. LIC is formed under Life insurance corporation act). Prior to becoming companies, Indian Airlines & Air India were Corporations under the relevant act for airlines.
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