Sun industries p. ltd company has its paid up share capital of 40 lakh and turnover of 10 crore as per last audited bal. sheet . what the company will be treated as small company . what would be answer if it
is governed by special act
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small company
Replies (1)
- Small company’’ means a company, other than a public company,-
- 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; AND
- turnover of which 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 twenty crore rupees:Provided that nothing in this clause shall apply to—
A) a holding companyor a subsidiary company;
B) a company registered under section 8 or
C) a company or body corporate governed by any special Act;
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