Public Private and Global Enterprises Test - 3

Majority-owned foreign affiliate (MOFA). A foreign affiliate in which the combined ownership of all U.S. parents exceeds 50 percent.

At present the number of industries kept reserved for government sector is three:

They are:

1.Atomic energy,

2.Railway transport and

3.The substances specified in the schedule to the notification of the government of India in the Department of the Atomic Energy dated 15th march, 1995.

Disinvestment involves the sale of the equity shares to the private sector and the public. The objective was to raise resources and encourage wider participation of the general public and workers in the ownership of Public Sector Enterprises (PSE).

A memorandum of understanding (MOU) is a formal agreement between two or more parties. Companies and organizations can use MOUs to establish official partnerships.

The private sector encompasses all for-profit businesses that are not owned or operated by the government. This is run by private individuals or groups, usually as a means of enterprise for profit.

After having attained independence, the Government of India declared its first Industrial Policy on 6th April, 1948. The Industrial Policy 1948 was presented in the parliament by then Industry Minister Dr. Shyama Prasad Mukherjee.

Industrial Policy Resolution of 1956 (IPR 1956) is a resolution adopted by the Indian Parliament in April 1956. It was the first comprehensive statement on industrial development of India. This comprised 17 industrial areas which were strictly under the Central Government. In the 1956 resolution on industrial policy 17 industries were reserved for public sector.

The Indian economy consists of both privately owned and government owned business enterprises, it is known as a mixed economy. The Government of India has opted for a mixed economy where both private and government enterprises are allowed to operate.

it resembles closely the popular or abbreviated description of an existing company or limited liability partnership;

the proposed name is identical with or too nearly resembles the name of a company or limited liability partnership incorporated outside India and reserved by such company or limited liability partnership with the Registrar:

the proposed name includes the word “State”, the same shall be allowed only in case the company is a government company;