Same management doctrine: state ownership via constitutional shareholding does not equate to individual voting control for inter company loan rules. The Department concludes that when the President or a State Governor holds majority shares by virtue of constitutional powers on behalf of the Union or State, that holding is not the same as an individual exercising or controlling voting rights; therefore the statutory provision treating companies as under the same management when an individual holds and controls voting rights does not apply to such Government companies.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Same management doctrine: state ownership via constitutional shareholding does not equate to individual voting control for inter company loan rules.
The Department concludes that when the President or a State Governor holds majority shares by virtue of constitutional powers on behalf of the Union or State, that holding is not the same as an individual exercising or controlling voting rights; therefore the statutory provision treating companies as under the same management when an individual holds and controls voting rights does not apply to such Government companies.
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