https://www.taxtmi.com/circulars?id=10893 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. en-us Wed, 19 May 1976 00:00:00 +0530 Fri, 17 Jun 2011 16:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=10893 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. Circulars Companies Law Wed, 19 May 1976 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10893