In this Act, unless the context otherwise requires,-



(1) 'Government company' shall have the same meaning assigned to it in section 617 of the Companies Act, 1956;



(2) 'industry' means any business, trade, undertaking, manufacture or calling of employers and includes any calling, service, employment, handicraft or industrial occupation or avocation of workmen and the word 'industrials' shall be construed accordingly;



(3) 'relief undertaking' means a State industrial undertaking declared as such under section 3;



(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 advanced or grant has been given or in respect of any loan whereof, a guarantee has been given by the State Government or a Government company or a Corporation owned or controlled by the State Government.