As per Section 2 72 of Companies Act 2013 institution should not be notified as public financial ins...........

Companies Act-Phase (I & II) Introduction to Company Act

As per Section 2(72) of Companies Act, 2013 institution should not be notified as public financial institution unless:

It shall be established or constituted by or under any Central or State Act, other than Companies Act.

Not less than 51% of its paid-up share capital is held or controlled by Central Government or by any State Government or Partly by Central Government and partly by one or more State Governments.

Both of the above

None of the above

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Explanation:

As per Section 2(72) of Companies Act, 2013 ‘Public Financial institution means:

Life Insurance Corporation established under LIC Act, 1956

Infrastructure Development Finance Company Limited

Unit Trust of India

Institutions notified by Central Government under Section 4A of Companies Act, 2013

Any other institution notified by RBI if:

It shall be established or constituted by or under any Central or State Act, other than Companies Act.

Not less than 51% of its paid-up share capital is held or controlled by Central Government or by any State Government(s) or Partly by Central Government and partly by one or more State Governments