small company under Companies Act 2013

This query is : Resolved

kowsalya (Querist)
Follow

03 May 2024 To qualify the Company as a Small Company, is it necessary to fulfill both the paid-up capital and turnover criteria, or is it sufficient to meet just one of them? Kindly clarify.

Thanks in Advance

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

03 May 2024 definition is clear - both conditions are to be met. Its "and", not "or"

Message likes : 1 times

kowsalya

kowsalya (Querist)
Follow

03 May 2024 Is dematerialsation of shares mandatory for a private limited company with the paid up capital more than Rs. 4 Crores but the turnover is less than Rs.40 Crores? Kindly Clarify

Thanks In Advance

Upgrade to CAclubindia Pro. Subscribe Now!

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

03 May 2024 you will have to dematerialize your shares.

Message likes : 1 times

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

03 May 2024 this article may be of help for comprehensive understanding of the issue: https://www.equitylist.co/blog-post/dematerialisation-of-shares-by-private-companies-mcas-rule-9b#:~:text=Rule%209B%20dictates%20that%20companies,process%20is%20September%2030th%2C%202024.

Message likes : 1 times

kowsalya

kowsalya (Querist)
Follow

03 May 2024 Thank you so much for your prompt response sir

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

03 May 2024 you are most welcome Kowsalya.