https://www.taxtmi.com/caselaws?id=460342 IDBI Limited, after vesting of the undertaking under the 2003 transfer statute, was held to have ceased in its earlier statutory form and to function as a company under the Companies Act. Mere Ministry advisories, vigilance arrangements, RBI categorisation, shareholding pattern, or corporate records did not prove Government of India ownership or control. In the absence of deep and pervasive administrative, financial, and functional control by the Government, the company could not be treated as a Government of India undertaking. A company not qualifying as a government company under the Companies Act, 2013, and a separate Article 12 analysis of State status, did not change that position, so the claimed NEET brochure exception was unavailable. en-us Tue, 08 Dec 2020 00:00:00 +0530 Mon, 20 Jan 2025 20:06:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460342 IDBI Limited, after vesting of the undertaking under the 2003 transfer statute, was held to have ceased in its earlier statutory form and to function as a company under the Companies Act. Mere Ministry advisories, vigilance arrangements, RBI categorisation, shareholding pattern, or corporate records did not prove Government of India ownership or control. In the absence of deep and pervasive administrative, financial, and functional control by the Government, the company could not be treated as a Government of India undertaking. A company not qualifying as a government company under the Companies Act, 2013, and a separate Article 12 analysis of State status, did not change that position, so the claimed NEET brochure exception was unavailable. Case-Laws Indian Laws Tue, 08 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460342