25 April 2015
Instead of 'loss', turnover as per last P & l has to be known to check the status of the company. Inference is from the'substitution' made in section 2(85) on 13.2.2015 by MCA.
25 April 2015
In the said order dated 13.02.2015,the word 'or' was substituted with 'and'. So to come under the umbrella of small company, both conditions should be met. In above case the paid up cap is already more than limit making the other criteria irrelevant.
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