Applicability of sub‑section (1A) to Government companies incorporated as private limited companies ‑ Proposal for granting exemption

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..... mpanies incorporated as private limited companies ‑ Proposal for granting exemption Several Government companies which were private companies until February 1, 1975 have already become public companies by virtue of the turnover criterion brought in by new sub‑section (1A) of section 43A. Representations have been received from some of the Government companies, Bureau of Public E .....

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..... ould not be available to all existing Government/private companies, but may be available only to those companies which may become public companies by the turnover criteria adopted under sub‑section (1A) of section 43A in future or Government companies that may be incorporated as private companies in future. The Department of Company Affairs have already notified exemption in favour of Gove .....

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..... n a private company under section 43A insofar as the day‑to‑day operations are concerned. Having regard to what has been stated above, it is hoped that the Government companies which have become public companies by the operation of law and are likely to become as such in future will not be confronted with insurmountable difficulties for complying with the various provisions of the la .....

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