Status regarding two psu forming joint venture company
Tuhin Kumar Chakrabarti
(Querist) 13 January 2017
This query is : Resolved
Sir,
I would like to know the status that if two (2) PSUs form a Joint venture company then that company will also be considers as a PSU ?
I will like to know in context of GREEN GAS LIMITED which is a JV company of GAIL ( A PSU ) and INDIAN OIL LIMITED ( A PSU ). A pSU is a GOVT. of India undertaking. What will be the status of the GREEN GAS LIMITED , whether it is a PSU?
Looking forward for your kind reply.
Thanks.
DR.VEDULA GOPINATH
(Expert) 14 January 2017
YES. GREEN GAS COMPANY IS ALSO AN PSU. IF 50% are more is held by a Government or Government undertaking or PSU that entity is also a joint venture company.
thus GGC shall be subejct to govt. audit and government regulations and rules.
cs dr vedula gopnath advocate/arbitrator