Payment of Bonus Act - Definition

Section 2(16):
Establishment in public sector
An establishment owned, controlled or managed by-

(a) a Government company as defined in Section 617 of the Companies Act, 1956 (1 of 1956)

(b) a corporation in which not less than forty percent of its capital is held (whether singly or taken together) by-

(i) the Government

(ii) the Reserve Bank of India

(iii)d a corporation owned by the Government or the Reserve Bank of India

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