ISSUE:
Whether the Oil and Natural Gas Commission, the Industrial Finance Corporation, and the Life Insurance Corporation established under statutes of Parliament are authorities under Article 12 of the Constitution?
RULE:
Bodies like LIC and ONGC were created by statutes and had the statutory power to make binding rules and regulations, and were under the pervasive control of the Government. In light of these facts, and the combination of State aid and furnishing of an important public service by these corporations, made these corporations to be State under Art 12.