Annual Return under Companies Act

ravi (senior accountant) (507 Points)

13 May 2011  

Pvt. Co.-Under the Annual Return Format it contained a clause under (We Certify that...) a clause stating "The company did not have an average turnover of Rs. 10 crores or more during the relevant period" now my query here is should the company's average turnover must not be10crore or more for the companies filing such annual report pls explain me what is the implication of such clause because our company has far more than 10 crores.