Definitions.

In this Act, unless the context otherwise requires,-

(1) "Government company" has the meaning assigned to it in section 617 of the Companies Act, 1956 (No. 1 of 1956)

(2) "Industry" means any business, trade undertaking manufacture of calling of employers and includes any calling, service, employment, handicraft or industrial occupation or avocation of workmen, and the work "Industrial" shall be construed accordingly;

(3) "Relief undertaking" means a State Industrial undertaking in respect of which a declaration under section 3 is in force;

(4) "State industrial undertaking" means an industrial undertaking- (a) Which is started or which, or the management of which is under any law or agreement acquired or otherwise taken over by the State Government or by a Government company and is run or proposed to be run by, or under the authority of the State Government or a Government company; or

(b) to which any loan, advance, or grant has been given, or in respect of any loan whereof, a guarantee has been given, by the State Government or Government company; or

(c) in respect of which a notified order under the Industries (Development and Regulation) Act, 1951 (No. 65 of 1951) is in operation.