Small Company Query
Can OPC be a small company? or only Pvt. Ltd. can be small company? But OPC is also a Pvt. company... Kindly help in clearing this doubt...
"small company" means a company, other than a public company,â?? (So any company other than a public company can be called a small company subject to conditions below. So a pvt ltd or OPC pvt ltd can be a small company) (i) paid-up share capital of which does not exceed fifty lakh rupees or such higher amount as may be prescribed which shall not be more than 32[ten crore rupees]; 3[and] (ii) turnover of which *****17[as per profit and loss account for the immediately preceding financial year] does not exceed two crore rupees or such higher amount as may be prescribed which shall not be more than 18[one hundred crore rupees:]
You said, any company other than a public company can be a small company. But a company cannot be SC, if It is holding of any co. Subsidiary if any co. Sec. 8 co. I think OPC is not a Pvt. co., It is just like it due to similarities in registration... Otherwise opc will not be required to convert itself into pvt or public co. if it ceases to be an opc... So, again first doubt comes... Can OPC be a small co.?