Vikram Overseas Pvt. Ltd. has a paid up capital of ₹ 50 lakh and turnover of ₹ 15.80 crore in the last financial year 2020-21. The Company has filed its annual return for the relevant financial year signed by only one di

As per Section 2(85) of the Companies Act 2013, "Small Company" means a company, other than a public company, having- 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 ten crore rupees; and turnover of which 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 one hundred crore rupees: Provided that nothing in this clause shall apply to- (A) a holding company or a subsidiary company; (B) a company registered under section 8; or (C) a company or body corporate governed by any special Act. Rule 2(1)(t) of the Companies (Specification of Definitions Details) Rules, 2014, provides that for the purposes of sub-clause (i) and sub-clause (ii) of clause (85) of section 2 of the Act, paid up capital and turnover of the small company shall not exceed rupees two crore and rupees twenty crore respectively. In view of the above case, Vikram Overseas Pvt. Ltd. would be a "Small Company" since it has paid up capital of ₹ 50 lakh and turnover of ₹ 15.80 crore in the last financial year 2020-21 which is within the limit prescribed under section 2 (85) of the Companies Act, 2013. As per proviso to Section 92(1) of the Companies Act, 2013, the annual return of a small company, shall be signed by a Company Secretary or where there is no company secretary, by a Director of the company. In the present case, Vikram Overseas Pvt. Ltd. has filed its annual return for the relevant financial year signed only by one director of the company. Therefore, the act of the company is in order.