State any four features of government companies.

1.	State any four features of government companies.
Answer» 1. Formation: These companies are formed by the Indian Companies Act, 1956 or 2013. 2. Ownership: The ownership of these companies is in the hands of the government. In total capital major portion of the capital not less than 51% is contributed by government. 3. Separate entity: They have separate legal entity, apart from the government. 4. Government audit: These companies are exempted from the accounting and audit rules and procedures. An auditor is appointed by the central government. 5. Financial autonomy: The government company obtains its funds from government shareholdings and other private shareholders. It is also permitted to raise funds from the capital market.

Answer»

1. Formation: These companies are formed by the Indian Companies Act, 1956 or 2013.

2. Ownership: The ownership of these companies is in the hands of the government. In total capital major portion of the capital not less than 51% is contributed by government.

3. Separate entity: They have separate legal entity, apart from the government.

4. Government audit: These companies are exempted from the accounting and audit rules and procedures. An auditor is appointed by the central government.

5. Financial autonomy: The government company obtains its funds from government shareholdings and other private shareholders. It is also permitted to raise funds from the capital market.

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