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of <h1>Government Companies Transitioning to Public Status Due to Turnover: Exemptions and Future Considerations u/s 43A(1A.</h1> The circular addresses the applicability of sub-section (1A) of section 43A to government companies incorporated as private limited companies, considering their transition to public companies due to turnover criteria. It discusses requests for exemptions to maintain their private status as of February 1, 1975, and clarifies that exemptions cannot be applied retroactively. Future exemptions may apply to companies meeting turnover criteria or newly incorporated government private companies. The Department of Company Affairs plans to exempt government companies from certain sections, including inter-corporate investments and managerial appointments, reducing the impact of their public or private status on daily operations.
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