NO.1/8/99-CL.V

GOVERNMENT OF INDIA

MINISTRY OF LAW. JUSTICE & COMPANY AFFAIRS

DEPARTMENT OF COMPANY AFFAIRS

5TH FLOOR.'A' WING, SHASTRI BHAWAN

DR. RAJENDRA PRASAD ROAD, NEW DELHI- 110001

Dated ...5.3.1999

PRESS NOTE No. 2/99

Sub: "Deemed Public Companies" under Companies Act, 1956 - Average Annual Turnover criterion raised to Rs. 25 crores.

The Central Government has issued a Notification in the Gazette on 23.2.99 (GSR No.130 (E) dated 23.2.99) by which it has increased the criterion for deeming a private company as a "Deemed Public Company on the basis of its Average Annual Turnover from Rs.10 crores to Rs.25 crores.

2. This Notification has been issued with reference to Sec.43A(IA) of the Companies Act, 1956. The Notification has been given effect to by amending Rule 4C of the Companies (Central Govt.'s) General Rules and Forms, 1956.

R.D. Joshi

Joint Secretary to the Govt. of IIndia

Endt. NO-1/8/99-CL-V

Copy to:

Shri S.P. Das, DPIO, Press Information Bureau, Shastri Bhawan, New Delhi with the request that the Press Note may kindly be given wide publicity.

(R.D. Joshi)

Joint Secretary to the Govt. of India