Increase in authorised capital
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 March 2015
Sir,
A Pvt Ltd Co was having Turnover of Rs. 1.80 Crores and Share Capital of Rs. 20 Lacs as per its last Profit & Loss A/c (F.y 2013-14) .
But in the current year 2014-15 its turnover is Rs. 4.5 Cores till date. Now the company wants to increase its authorised capital. I want to kow whether the status of the co. wiil be small co or other than small co.
A Pvt Ltd Co was having Turnover of Rs. 1.80 Crores and Share Capital of Rs. 20 Lacs as per its last Profit & Loss A/c (F.y 2013-14) .
But in the current year 2014-15 its turnover is Rs. 4.5 Cores till date. Now the company wants to increase its authorised capital. I want to kow whether the status of the co. wiil be small co or other than small co.
CS Mitesh Mehta
(Expert)
12 March 2015
SMALL COMPANY.
For qualifying as a small company, it is enough if either the paid up capital is less than rupees fifty lakhs or turnover is less than rupees twenty crores. It is sufficient if either one of the requirement is met without meeting the other requirement. However, these limits may be raised but not exceeding rupees five crores in case of paid up capital and rupees twenty crores in case of turnover.
For qualifying as a small company, it is enough if either the paid up capital is less than rupees fifty lakhs or turnover is less than rupees twenty crores. It is sufficient if either one of the requirement is met without meeting the other requirement. However, these limits may be raised but not exceeding rupees five crores in case of paid up capital and rupees twenty crores in case of turnover.
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