The paid-up share capital of Abhinav Natural Gases Ltd. (ANGL) is 140 crores. The holdings of Central Government and Maharashtra Government are -…

Government Company [Section 2 (45) ]: Government Company means any company in which not less than51% of the paid-up share capital is held by- the Central Government, orby any State Government or Governments, orpartly by the Central Government and partly by one or more State Governments. and the Section includes a Company which is a Subsidiary Company of such a Government Company. In the instant case, Abhinav Natural Gases Ltd. (ANGL) cannot be tagged as a Government Company as the total holding of Central Government and State Government is 70.30 crores (₹ 40.10 crores +30.20 crores) which is less than51% of the paid-up share capital of ANGL i.e.71.40 crores (51% of 140crores). Hence ANGL shall not be tagged as Government Company. Directors of ANGL cannot quote it as Government Company.