Go green (ICAI) (666 Points)
05 November 2011Please clarify whether a Government company can also be a Private Company?
Also is it true that every company is classified as either a Public company or a Private Company irrespective whether it may also be a Foreign Company or a Government Company or a Statutory Company or a Section 25 Company?
Balaji
(Articled assistant & CA final)
(117 Points)
Replied 08 November 2011
Ya...
A Government company may be a private company or a public company. Law requires minimum of two members to float a private company, one of whom can be the President or the Governor, as the case may be, and the other any officer of the Government. But All Government companies are treated as public sector companies.
CAclubindia
