Gas authority of India Ltd. (GAIL) is carrying on various projects of energy and power. Mojority of its shares are held by the government of India. It
Gas authority of India Ltd. (GAIL) is carrying on various projects of energy and power. Mojority of its shares are held by the government of India. It was registered under the previous Companies Act. It enjoys all the characteristics of a company. The board of directors are appointed by the government. The Board and shareholders are responsible for the efficient working of the company. The company prepaers its annual report and submit to the appropriate authorities.
(a) Name the type of public sector enterprise referred to in the above para.
(b) In whose name does the government buy shares ?
(c ) State any three features of the type of public sector enterprise identified in part (a) other than shareholders. It is also premitted to raise funds from the capital market.
1 Answers
Correct Answer - (a) Government Company
(b) President of India
(c ) Features of government company.
(i) The company can file a suit ina court of low against any third party and be sued.
(ii) The company obtains its funds government shareholdings and other private shareholders. It is also permitted to raise funds form the capital market.