San Industries Private Limited Company has its paid-up share capital of ₹40 lakhs and turnover of ₹10 crore as per the last audited Balance Sheet. Examining the provisions of the Companies Act, 2013, decide whether the c

In accordance with the provisions as contained in section 2(85) of the Companies Act, 2013, 'small company' means a company, other than a public company, - 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 five crore rupees; and turnover of which as per its last profit and loss account does not exceed two crore rupees or such higher amount as may be prescribed which shall not be more than twenty crore rupees: Provided that nothing in this clause shall apply to- a holding company or a subsidiary company; a company registered under section 8; or a company or body corporate governed by any special Act. Therefore, taking into account the above provisions, San Industries Private Limited is not a small company in accordance with section 2(85) of the Companies Act, 2013. The proviso to Section 2(85) reads that companies governed by any special act shall not be treated as small companies even when they comply with the provisions of the said section. Hence, the answer shall remain the same.