The correct answer is A.
A private company is deemed to be a public company if not less than fifty per cent of its paid-up capital is held by one or more bodies corporate. This is because a private company is a company that is not
open to the public for subscription to its shares. It is limited to a small number of members, who are usually known to each other. However, if a private company has more than fifty per cent of its paid-up capital held by one or more bodies corporate, then it is deemed to be a public company. This is because a body corporate is a legal entity that is separate from its members. If a private company has more than fifty per cent of its paid-up capital held by one or more bodies corporate, then it is effectively open to the public for subscription to its shares.Option B is incorrect because it states that not less than twenty five percent of the paid-up capital of a private company is held by one or more bodies corporate. However, the Companies Act 2013 does not specify a minimum percentage of paid-up capital that must be held by bodies corporate for a private company to be deemed to be a public company.
Option C is incorrect because it states that the average annual turnover of a private company during the three consecutive financial years is rupees five crores or more. However, the Companies Act 2013 does not specify a minimum average annual turnover for a private company to be deemed to be a public company.
Option D is incorrect because it states that the paid-up capital of a private company exceeds rupees one crore. However, the Companies Act 2013 does not specify a maximum paid-up capital for a private company to be deemed to be a public company.