Sep 30, 2022

Amendment in Companies (Specification of Definition Details) Rules, 2014

MCA, by way of a Notification dated September 15, 2022, has amended the Companies (Specification of Definition Details) Rules, 2014. Pursuant to this amendment, the definition of small companies has been amended by increasing the threshold for paid up capital and turnover for small companies to INR 4 crore (approx. UD$ 483,591) (previously INR 2 crore (approx. US$ 241,796)) and INR 40 crore (approx. UD$ 483,5912) (previously INR 20 crore (approx. US$ 241,7956)), respectively.

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