Summariseddefinitions with examples of Statutory Corporation, Departmental Undertaking and Government Companies.

Departmental undertaking-- this form of public sector enterprise is just like the departmental of govt.
Statutory corporation-- it is a body corporation formed by passing a special act of parliament or state legislature. A company in which at least 51% of paid- up share capital is held by govt of India is knw as govt company

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It is established under a special Act passed in parliament or state legislative assembly. Its objectives, powers and functions are clearly defined in the statute /Act.
Examples :- Unit Trust of India, Life Insurance Corp.

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