Which one of the following statements is *not* correct ? “Industrial U

Which one of the following statements is *not* correct ?
“Industrial Undertaking in Public Sector” means 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 Act which is controlled by the Government.
a company set up by a member or members of the general public.
a corporation set up by or under a State Act which is controlled by the Government.
This question was previously asked in
UPSC CISF-AC-EXE – 2020
An “Industrial Undertaking in Public Sector” is defined by its ownership, control, or management by the government or government-controlled entities. A company set up by members of the general public falls under the private sector.
Public sector undertakings (PSUs) are enterprises owned by the government (either Central or State) or government companies/corporations, while private sector companies are owned and controlled by individuals or private entities.
Definitions of government companies, corporations established by acts of Parliament or State Legislatures, and public sector undertakings are provided in relevant legal frameworks like the Companies Act and acts establishing specific corporations.
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