3)MNP Private Ltd. is a company registered under the Companies Act, 2013 with a, Paid Up Share Capital of `45 lakh and a turnover of `3 crores.
Explain the meaning of “Small Company” and examine the following in accordance with the provisions of the Companies Act, 2013:
(i)Whether the MNP Private Ltd. can avail of the status of a small company?
(ii)What will be your answer if the turnover of the company is 1.50 crore?

Answer rating: 100% (QA)

Answer Small Company According to Section 285 of the Companies Act 2013 Small Company means a compan... View the full answer