4) New Private Ltd. is a company registered under the Companies Act, 2013 with a paid-up share capital of ` 70 lakh and a turnover of ` 30 crore. Explain the meaning of “Small Company” and examine the following in accordance with the provisions of the Companies Act, 2013:
(i)Whether the New Private Ltd. can avail the status of a small company?
(ii)What will be your answer if the turnover of the company is ` 15 crore and the capital is the same as ` 70 lakh?

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