hi. i am doing an audit of one of the companies where i came across another company with whom they are dealing and that company is recognised as Deemed Public Company.
Can anybody clarify the clear meaning of Deemed public Compnay.
4 Replies
RAMANJU
(here to updating the knowledge)
(485 Points)
Replied 02 July 2009
Deemed public company is a private limited Company which is subsidiary of a Public limited Company.
Kunal
(Service)
(65 Points)
Replied 27 August 2010
Hi. Can anybody plz state the implications of a pvt co being a public co?
Should it raise its capital, shareholders & Directors as per a public co?
any return has to be sent to ROC?
Manisha Deshmukh
(Article Clerk/Assistant)
(32 Points)
Replied 04 September 2010
Certain private companies are deemed to be public companies by virtue of section 43 A, viz.-
1. when 25% or more of its paid-up share capital is held by one or more body corporate;
2. when its average annual turnover (during the last 3 years) exceeds Rs. 25 crores;
3. when it holds 25% or more of the paid-up share capital of Public Company; or
4. when it accepts or renews deposits from the public after making an invitation by an advertisement.
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