Companies Act, 1956
Sec 617 - Definition of "Government Company ".
For the purposes of this Act, Government company means any company in which not less than fifty-one per cent of the paid-up share capital is held by the Central Government, or by any State Government or Governments, or partly by the Central Government and partly by one or more State Governments, and includes a company which is a subsidiary of a Government company as thus defined.
** Section 618 not reproduced here as it has become redundant after abolition of the system of managing agent by Act 17 of 1969, w.e.f. 3rd April, 1970.