Reconversion into private company allowed when controlling shareholding declines or turnover falls below statutory threshold, subject to section 43A compliance. Provisions under section 43A mandate that a private company becomes a public company when specified conditions are met and requires compliance with statutory procedures within a three month period. If the former private shareholder's holding later falls below the prescribed shareholding threshold or the company's average turnover falls below the statutory threshold, the company may reconvert into a private company by complying with the reconversion procedure set out in the statutory provision.