Discuss the main feature of Statutory Corporation under Administrative Law.

The main features of Statutory Corporations are as under: It is incorporated under a Special Act of Parliament or State Legislative Assembly. It is an autonomous body and is free from government control in respect of its internal management. However, it is accountable to the Parliament or the state legislature. It has a separate legal existence. It is managed by the Board of Directors, which is composed of individuals who are trained and experienced in business management. The members of the Board of Directors are nominated by the Government. It is supposed to be self sustained in financial matters. However, in case of necessity it may obtain a loan and/or seek assistance from the government. The employees of these enterprises are recruited as per their own requirements by following the terms and conditions of recruitment decided by the Board.