TOPIC 42: QUICK REFERENCE TO “Small Company”
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Quick Reference to " Small Company" :-
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Legal Provision:-.
Section 2(85) of Companies Act, 2013.
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Points:-.
1. Small company is basically a private company with some unique features.
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2. Max. Paid up capital ₹ 50 lakh and Max Turnover ₹ 2 crore.
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3. Small company should be other than public company.
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4. Provision of Small Company is not Applicable to Holding, Subsidiary, Section 8 company, company or body corporate by special act.
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5. The annual return of Small Company shall be signed by the Company Secretary and if there is no Company Secretary then by the director of the Company.
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6. The merger and amalgamation procedure is simple for two or more small Companies.
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7. Small Company is different from One Person Company.
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REGARDS
ACA SOURAV BAGARIA