The Company defined under section
3(1)(iv) of the Companies Act, 1956 is a public
company which-
1.
is not
a private company;
2.
has a minimum paid-up
capital of Rs. 5 lakhs or such higher capital
as may be prescribed;
3.
is a private company
but subsidiary of a public company.
Private
Companies deemed to be Public Companies
Certain private
companies are deemed to be public companies by virtue
of section 43 A, viz.-
1.
when
25% or more of its paid-up share capital
is held by one or more body corporate;
2.
when its average annual turnover (during
the last 3 years) exceeds Rs. 25 crores;
3.
when it holds 25%
or more of the paid-up share capital of
Public Company; or
4.
when it accepts or
renews deposits from the public after making
an invitation by an advertisement.
However,
as per the Companies (Amendment) Act, 2000 effective
from 13th December 2000 such deemed public limited companies
are required to intimate to the Registrar to revert
back to their original status as a private limited company.
