Deemed Public Company ‑ New criteria for conversion based on invitation and acceptance of deposits from public introduced by the Companies (Amendment) Act, 1989 ‑ Effective date - Companies Law - Circular : No. 3,

Circular : No. 3, dated 13 4 1989. Subject:- Deemed Public Company New criteria for conversion based on invitation and acceptance of deposits from public introduced by the Companies (Amendment) Act, 1989 Effective date A private company which accepts deposits from public by way of invitation by advertisement, or renews deposits so accepted, will become a public company, and not otherwise. It is clarified that a private company which had accepted, after an invitation made by advertisement, deposits from the public prior to the 15th June, 1988, shall be deemed to have become a public company when any deposit so accepted is renewed, on and from the date of such renewal.