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.

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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

Rajendra K Goyal (Expert) 14 January 2017
Agree with the expert.

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