What is meant by Government Company ? Explain any three features of Government Company ?

A Government Company is established under the Indian Company Act, 1956 and is registered and governed by the provisions of the Indian Companies Act. Three features of Government Company are :

(i) It has a separate legal entity, apart from the government.

(ii) It enjoys autonomy in all management decisions and takes actions according to business prudence.

(iii) A Government Company can be established by fulfilling the requirements of the Indian Companies Act. A separate act in the Parliament is not required.