Give the meaning of Government Company. What are the three merits and three limitations of Government Company?
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A Government company can be easily formed under the Companies, Act, just by an executive decision of the government. (ii) Internal Autonomy: A government company can manage its affairs independently. It is relatively free from ministerial control and political interference, in its day-to-day functioning.
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HEY MATE✌️✌️
Government Company refers to that public enterprise which has a minimum 51% of the paid up capital in the name of Central Government or state government .
MERITS-------------------------------------
>EASY FORMATION.
>AUTONOMY IN OPERATION.
>FLEXIBILITY.
>QUICK DECISION.
DEMERITS-------------------------------------
>INCOMPLETE OPERATIONAL AUTONOMY.
>NO CONTINUITY IN POLICIES.
>LACK OF PROFESSIONAL EFFICIENCY.
HOPE THIS HELPS YOU ☺️
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