Question

Statutory companies are those

• A. created through a special Act of the Parliament
• B. not governed by the Companies Act
• C. Governed by the Act which creates them
• D. all of these

Hint:

Think of examples like the RBI or LIC, both set up by their own special Acts.

Answer 1

The Correct Option is D

Step 1: Understanding the Question:
We need the complete and correct definition of a statutory company out of three partial statements.

Step 2: Key Formula or Approach:
Check each statement against the textbook meaning of a statutory company, then see if all three combine into one correct definition.

Step 3: Detailed Explanation:
A statutory company is formed when the legislature passes a dedicated Act for it, unlike ordinary companies that are registered under the general Companies Act.
Because its own Act creates it, the general Companies Act does not apply to its formation, so the statement that it is 'not governed by the Companies Act' is also correct in this sense.
The special Act that creates a statutory company also lays down its powers, duties and structure, so the company is governed by that very Act, confirming the third statement.
Examples such as the Reserve Bank of India and the Life Insurance Corporation of India fit this pattern exactly.

Step 4: Final Answer:
Since all three statements are correct together, the answer is 'all of these'. \[ \boxed{\text{all of these}} \]