Regarding company's status
This query is : Resolved
25 April 2015
Good Morning Everyone,
I have a query regarding Company's status as "Small Company" or not.
A pvt ltd company having paid up capital Rs. 4.5 Crores and its last year loss was 25,000.
Can anyone tell me about this company that can we consider it as "Small Company"?
Please note that company is not started its operations.
I have a query regarding Company's status as "Small Company" or not.
A pvt ltd company having paid up capital Rs. 4.5 Crores and its last year loss was 25,000.
Can anyone tell me about this company that can we consider it as "Small Company"?
Please note that company is not started its operations.
CS Adnan Shaikh
(Expert)
25 April 2015
No, this will not be considered as Small Co, as the capital is above the threshold limit for small companies.
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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.
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CS Adnan Shaikh
(Expert)
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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