(85) Small Company

“small company” means a company, other than a public company,—

(i)

paid-up share capital of which does not exceed fifty lakh rupees or such higher amount as may be prescribed which shall not be more than ten crore rupees five crore rupees ; or and

(ii)

turnover of which as per profit and loss account for the immediately preceding financial year as per its last profit and loss account does not exceed two crore rupees or such higher amount as may be prescribed which shall not be more than one hundred crore rupees twenty crore rupees:

Proviso

Provided that nothing in this clause shall apply to—

(A)

a holding company or a subsidiary company;

(B)

a company registered under section 8; or

(C)

a company or body corporate governed by any special Act;

Notes, amendments & references (3)

Refer Rule 2 clause (t) of Companies (Specification of definitions details) Rules, 2014. To view the rule, Click Here.

Substituted vide Companies (Amendment) Act, 2017 dated 03.01.2018 effective from 09.02.2018. To view the notification, Click Here

Substituted by the Companies (Removal of Difficulties) Order, 2015 vide notification no. S.O. 504 (E)dated 13th February 2015. To view the order, Click Here