Companies Act 2013, Corporate Law

Now Small Company : Paid Up Capital Up To 50 Lacs ++AND++ Turnover upto Rs. 2 crores (Earlier OR)

Now Small Company = Paid Up Capital Up To 50 Lacs +AND Turnover upto Rs. 2 crores (Earlier OR)

Removal of Difficulties Dated 13-02-2015

Ministry has come up with Order of Removal of Difficulties relating to Chapter I (Preliminary), Section 2(85) (Definition of “Small Company”) and Chapter XII (Meeting of Board and its Powers), Section 186(11)(b)(i)(Loan and Investment by Company), of Companies Act, 2013.

Removal of Difficulties w.r.t Section 2 (85) “Small Company”:

Now a Company needs to satisfy both the conditions i.e. paid up capital upto Rs. 50 lakhs AND Turnover upto Rs. 2 crores, to be classified as Small Company.
ordinary course of its business.

http://mca.gov.in/Ministry/pdf/ROD_1st_2015.pdf
Dated: 13-02-2015