Private Company becomes Public Company

Section 439(a) of the Companies Act provides that a private company becomes public company –

(a)    Where not less than 25 per cent of its paid up share capital is held by one  or more public companies or deemed public companies; or

(b)   Where the average annual turnover during three preceding years of a private company, having share capital, is Rs. 5 cores or more irrespective of its paid up capital or

(c)    Where not less than 25 percent of the paid up share capital of a public company, having share capital, is held by a private company, or

(d)   Where a private company accepts after invitation by advertisement, or renews, deposits from the public other than members, directors or their relatives.