A private company is deemed to be a public company, if:

A. Not less than fifty per cent of its paid-up capital is held by one or more bodies corporate

B. Not less than twenty five percent of its paid-up capital is held by one or more bodies corporate

C. The average annual turnover of the private company during the three consecutive financial years is rupees five crores or more

D. The paid-up capital of the private company exceeds rupees one crore

Answer: Option B