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

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....rnover from Rs. 10 crore to Rs. 25 crore 1. As per sub-section (1A) of section 43 A of the Companies Act, 1956, where the average annual turnover of a private company is not, during the relevant period, i.e., during three consecutive financial years, less than such amount as may be prescribed, the private company shall become, on the expiry of three months from the last day of the period of thr....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ary, 1999 on companies whose average annual turnover for three consecutive financial years was beyond Rs. 10 crore or more (but was less than Rs. 25 crore) before it became a public company on the expiry of three months from the last day of the three consecutive financial years under the old criterion of Rs. 10 crore ceiling. 4. In this connection, it is to be noted that for determining the dat....