Dear Experts,
One of the Compnay is having authorized and paid up capital of Rs.1,00,000/- , what will be for filling the documents with ROC. as Query raised by somone thta this is a small company and as per the fees structure of the Company Act 2013.
What will be the procedure for conversion of Private limited company into Small Company??
kindly guide and do the needful.
Section 2(85) defines a small company as 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 five crore rupees; or
(ii) turnover of which as per its last profit and loss account does not exceed 2 crore rupees or such higher amount as may be prescribed which shall not be more than twenty crore rupees:
From the above, it is clear that your company falls within the purview of the above section. There is no need for conversion as the private company itself is a private company. Regarrding statutory filing docs with ROC, 23AC/ACA along with Board's Report, Auditors' Report as attachments within 30 days from the date of AGM and eform 20B (Annual Return) within 60 days from the date of AGM for the financial year ending 31.03.2014.
Agree with Murty Sir.
CAclubindia
