https://www.taxtmi.com/acts?id=12319 Section 43A mandates that a private company becomes a public company when prescribed events occur: a specified proportion of paid-up share capital is held by one or more bodies corporate; the company's average annual turnover meets a prescribed threshold during the relevant period; or the company accepts or renews deposits from the public following an advertisement. The company must inform the Registrar within three months, after which the Registrar will remove the "Private" designation and alter the certificate of incorporation; statutory exemptions, verification powers for banking-held shares, filing requirements with annual returns, and penal consequences for default are provided. en-us Fri, 06 May 2011 11:54:31 +0530 Fri, 06 May 2011 11:54:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=12319 Section 43A mandates that a private company becomes a public company when prescribed events occur: a specified proportion of paid-up share capital is held by one or more bodies corporate; the company's average annual turnover meets a prescribed threshold during the relevant period; or the company accepts or renews deposits from the public following an advertisement. The company must inform the Registrar within three months, after which the Registrar will remove the "Private" designation and alter the certificate of incorporation; statutory exemptions, verification powers for banking-held shares, filing requirements with annual returns, and penal consequences for default are provided. Act-Rules Companies Law Fri, 06 May 2011 11:54:31 +0530 https://www.taxtmi.com/acts?id=12319