According to Section 2(71) of Companies Act, 2013 a “public company” means a company which –

•      * is not a private company;
•      * has a minimum paid-up share capital of five lakh rupees or such higher paid-up capital, as may be prescribed;
•      * 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 ;