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Small company small problem
Can Anyone Tell me to The Appropriate and "Direct"Source Of Info Where to Get The Exactly What Is The Right Definition.. of Small Company! it is seems There is an update in definition but When I looked At MCA site it still Showing Previous Wording.. enumerated like this
2(85) small company
means 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 two crore rupees or such higher amount as may be prescribed which shall not be more than twenty crore rupees:
please specify whether it is "And" Or "or"
Replies (1)
Please see Removal of Difficulties Order dated 1st June 2015 at below mentioned link:
https://www.mca.gov.in/Ministry/pdf/ROD_1st_2015.pdf
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