Increase in authorised capital

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 March 2015 Sir,

A Pvt Ltd Co was having Turnover of Rs. 1.80 Crores and Share Capital of Rs. 20 Lacs as per its last Profit & Loss A/c (F.y 2013-14) .

But in the current year 2014-15 its turnover is Rs. 4.5 Cores till date. Now the company wants to increase its authorised capital. I want to kow whether the status of the co. wiil be small co or other than small co.

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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12 March 2015 SMALL COMPANY.

For qualifying as a small company, it is enough if either the paid up capital is less than rupees fifty lakhs or turnover is less than rupees twenty crores. It is sufficient if either one of the requirement is met without meeting the other requirement. However, these limits may be raised but not exceeding rupees five crores in case of paid up capital and rupees twenty crores in case of turnover.