Company Affairs (CS) Interview Question:

Can you define the Statutory company?

Submitted by: Ali Hassan Siddiqui

A company which is formed by the special Act passed by the Central or State legislature is called Statutory company. This type of company is not required to frame their Memorandum or Articles of Association. They are also not required to use the word limited as a part of their name. Their working is controlled, checked and reviewed by the Comptroller.
Submitted by: Ali Hassan Siddiqui