Limits under Companies Act, 2013

LIMITS PRESCRIBED UNDER COMPANIES ACT 2013 S. No Particulars Brief Description of the Provision/ Limits prescribed… 1 Annual Return. Sec. 92 Certification by PCS: Listed company or a company having paid-up share capital of 10 crore or more or turnover of 50 crore or more shall be certified by a PCS or incase company does not have whole time CS other than OPC or Small Company 2 Woman Director 1.Every Listed Company 2. Every public limited company having I. Paid up share capital of 100 crore or more ii. Turnover of 300 Crore or more 3 Independent Directors – Sec. 149 (4) Min. 2 Ind. Director for all Public companies having i) paid up share capital of 10 crore rupees or more ii) turnover of 100 crore rupees or more iii) in aggregate, outstanding loans, debentures and deposits exceeding 50 crore rupees. 4 Vigil Mechanism- Sec 177(9) a) Listed Company b) Companies which accept deposits from the public c) Companies which have borrowings from banks and public financial institutions in excess of 50 crore rupees 5 & 6 OPC to convert itself into a private co/ Small Company Where paid up share capital of OPC exceeds 50 lakh or average annual turnover during the relevant period exceeds 2 crore. (Same limit for Small co definition also- “ Not to exceed these limits”) 7 Companies to have KMP- Sec. 203 1.Every Listed Company and 2. Every other public company having a paid-up share capital of Ten crore rupees or more. (For Co Secy alone, the limit is reduced to 5 crore paid up capital) 8 Secretarial audit report Sec. 204 1. Every Listed Company or 2. Public company having paid-up share capital of 50 crore or more or 3. Public company having a turnover of 250 crore or more. 9 Annual performance evaluation of Board, Committee and individual Director must 1.Every Listed Company 2. Every public limited company having Paid up capital of 25 crore or more. 10 Audit Committee & Nomination and Remuneration Committee must i) All listed Companies ii) All public companies with a paid up capital of 10 crore or more; iii) All public companies having turnover of 100 crore or more; iv) All public companies, having in aggregate, outstanding loans or borrowings or debentures or deposits exceeding 50 crore or more 11 CSR applicability Sec. 135 Every Company, having i) Net worth of 500 crore or more or ii) Turnover of 1000 crore or more or iii) Net profit of 5 crore or more 12 Companies required to appoint Internal Auditor (Sec.138) Existing Companies to comply within 6 months from 01.04.2014 (a) every listed company; (b) every unlisted Public company having- (i) paid up share capital of 50 crore or more (ii) turnover of 200 crore or more iii) outstanding loans /borrowings exceeding 100 crore or more iv) outstanding deposits of 25 crore or more (c) every private company having- (i) turnover of 200 crore rupees or more or (ii) outstanding loans /borrowings exceeding 100 crore or more