Question

distinguish between departmental undertaking and statutory corporation​

Answer 1

Answer:

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Explanation:

The statutory company has a separate legal status distinct from the government. The departmental undertaking cannot borrow from the public. It has to depend on the budget allocated by the government. Statutory Companies can borrow from the public by issue of shares and debentures.

Answer 2

Explanation:

The organisation which is owned, managed, controlled, financed, and operated by the government is known as Departmental Organisation. The company which is formed under Special Act of Parliament or State Legislature is known as Statutory Corporation. It is managed by government officials of the concerned ministry..

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