Small company eligibility criteria, Companies Act 2013

Niha Binas (1 Points)

10 November 2021  

According to section 2 definition of small company, paid up capital and turnover limit can go up to 10 crores and 100 crores respectively as may be prescribed but in Amendment rules (Specification of Definition details, 1st Feb 2021) it is stated that paid up capital and turnover shall not exceed two crores and twenty crores respectively. So if there is  a company with 3 crores paid up capital and 25 crores turnover, will it be categorized as small company?