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Q142 (CISF/2020) Economy › Industry, Infrastructure & Investment

Which one of the following statements is not correct?
“Industrial Undertaking in Public Sector” means an industrial undertaking owned, controlled or managed by

Result
Your answer: —  ·  Correct: C

Explanation

The term “Industrial Undertaking in Public Sector” is defined under Section 3(ee) of the Industries (Development and Regulation) Act, 1951. According to the Act, it refers to an industrial undertaking owned, controlled, or managed by:

  • A Government company as defined in the Companies Act.
  • A corporation established by or under a Central, Provincial, or State Act which is owned or controlled by the Government.

Option C describes a private sector undertaking, as it is set up by members of the general public rather than being owned or controlled by the government. Therefore, statement C is incorrect in the context of defining a public sector industrial undertaking.

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