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of <h1>Private Companies Can Automatically Become Public Under Section 43A When Certain Conditions Are Met</h1> Under Section 43A of the Companies Act, 1956, a private company can automatically become a public company in certain situations. This occurs if 25% or more of its paid-up share capital is held by corporate entities, or if its average annual turnover exceeds a prescribed amount. Additionally, if a private company accepts deposits from the public, it also becomes a public company. After transitioning, the company must inform the Registrar to update its status. The articles of association may still retain specific private company provisions, and the number of members can be reduced below seven. Non-compliance results in fines.
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