as far as your query is concerned that Whether a private Company having paid-up share capital
of rupees 45 lakhs and turnover of Rs. 20 crores as per
last audited balance sheet will be treated as small
Let me informed that It is not a small company. Section 2(85) defines a small company
as a company other than a public 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 five crore rupees; or
(ii) turnover of which as per its last profit and loss account
does not exceed 2 crore rupees or such higher amount as
may be prescribed which shall not be more than twenty
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.
This means that a private company shall not be covered in the
definition of small company if either its paid up share capital
exceeds Rs. 50 lakhs or its turnover exceeds Rs. 2 crores.
Since the turnover of this company is more than Rs 2 crores i.e.
Rs. 20 Crores, it will not be a small company.
Hope answer was helpful to you
Arjun Pratap Singh