Food Corporation of India and Gas Authority of India Limited are the two forms of PSUs but their status is different. Explain.
Dear student,
Food corporation of India is a statutory corporation. Statutory corporations are public enterprises brought into existence by a Special Act of the Parliament. ... This is a body corporate created by the legislature with defined powers and functions and is financially independent with a clear control over a specified area or a particular type of commercial activity.
Gas authority of India is a government corporation. According to the Indian Companies Act 1956, a government company means any company in which not less than 51 per cent of the paid up capital is held by the government or by any state government or partly by central government and partly by one or more state governments
Regards
Food corporation of India is a statutory corporation. Statutory corporations are public enterprises brought into existence by a Special Act of the Parliament. ... This is a body corporate created by the legislature with defined powers and functions and is financially independent with a clear control over a specified area or a particular type of commercial activity.
Gas authority of India is a government corporation. According to the Indian Companies Act 1956, a government company means any company in which not less than 51 per cent of the paid up capital is held by the government or by any state government or partly by central government and partly by one or more state governments
Regards