(71) Public Company

“public company” means a company which—

(a)

is not a private company and;

(b)

has a minimum paid-up share capital of five lakh rupees or such higher paid-up capital , as may be prescribed:

Proviso

Provided that a company which is a subsidiary of a company, not being a private company, shall be deemed to be public company for the purposes of this Act even where such subsidiary company continues to be a private company in its articles

Notes, amendments & references (5)

Inserted vide Companies (Amendment) Act, 2017 dated 03.01.2018 effective from 09.02.2018. To view the notification, Click Here

The requirement of having minimum paid-up share capital under section 2(71) shall not apply to section 8 company vide notification no. G.S.R. 466(E) dated 5th June, 2015.

(The exceptions, modifications and adaptations provided above shall be applicable only to those companies covered under section 8 of the said act which has not committed a default in filing its financial statements under section 137 of the said act or annual return under section 92 of the said act with the registrar, vide notification dated 13th June, 2017)

To view the notification, Click Here

of five lakh rupees or such higher paid-up capital omitted by the Companies (Amendment) Act,2015 (21 of 2015), notified on 26th May, 2015, with effect from 29th May 2015 vide notification S.O. 1440(E). To view the notification, Click Here