As per the definition of Section 617 a government company denotes’ any company’

As per the definition of Section 617 a government company denotes’ any company’

.and the term ‘company’ in the Companies Act, 1956 means a company as defined in Section 3 of the Act, accOf’ding to which a company is the one formed and registered under the Companies Act, 1956 and any company existing prior thereto. Since the concept of government company was introduced by the Act of 1956, a government company shall invariably mean a company registered and incorporated under the Companies Act, 1956 only. A statutory corporation formed under a statute of the Legislature, like Life Insurance Corporation, Air-India, etc., is not a ‘company’ under the Companies Act, 1956 and as such is not a government company. These are corporations as distinguished from government companies and are incorporated under separate Acts of the Parliament.