Public Sector Undertakings - definition

7. Public Sector Undertakings – Public Sector Undertakings have been set up by Government in the form of companies or corporations in which the majority shares are held by the President of India or his nominees and are managed by Board of Directors, which includes officials and non-officials (BHEL, NTPC, ONGC etc.). Some of them may have also been formed as a result of takeover, nationalization etc. of erstwhile private companies (Indo Burma Petroleum, Balmer Lawrie & Company Limited, Burn Standards Company Limited, Braithwaite & Company Limited etc.)

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