A body substantially financed by Cos. owned by State Govt. is covered under definition of ‘public authority’: HC

COMPANY LAW : Section 2(h) would be applicable only if a body is owned, controlled or substantially financed, directly or indirectly by funds provided by appropriate Government; petitioners who were substantially financed by companies owned by State Government could be said to be covered by definition of 'public authority' under section 2(h)(d)(i)

from www.taxmann.com Latest Case Laws https://www.taxmann.com/topstories/101010000000194626/a-body-substantially-financed-by-cos-owned-by-state-govt-is-covered-under-definition-of-‘public-authority’-hc.aspx