Deemed public companies consequent upon increase in average annual turnover from Rs. 10 crore to Rs. 25 crore

Deemed public company status: revised turnover threshold prevents conversion during transitional period for companies within the window.

The turnover ceiling for deeming a private company as public was raised by rule amendment effective on the notification date; the material date for conversion is three months before that effective date, and a private company whose three-month expiry date fell within that transitional period and whose average turnover was at or above the old ceiling but below the new ceiling shall not become a deemed public company under the deeming provision.