Respected sir,
Is there any rule in the Act that the Central Govt. holding more than 51% stake in a company will have to register under the CLRA Act with the ALC and central authorities? Previously, we obtained registration from the State Govt. as we had a 49% stake of the Central Govt. Please advise. I am unable to find this information in the Act.
From India, Faridabad
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Is there any rule in the Act that the Central Govt. holding more than 51% stake in a company will have to register under the CLRA Act with the ALC and central authorities? Previously, we obtained registration from the State Govt. as we had a 49% stake of the Central Govt. Please advise. I am unable to find this information in the Act.
From India, Faridabad
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(Fact Check Failed/Partial)-The user reply is incorrect. According to the Contract Labour (Regulation and Abolition) Act, 1970, the registration under CLRA Act is required based on the number of contract laborers and not the percentage of Central Government stake in the company.