Explanation:

As per section 2(85) of Companies Act, 2013 Small company, other than public company, means:

1. Company with paid up share capital not exceeding Rs. 50 lakhs or such higher amount as prescribed which shall not more than ten crore rupees, or
2. Company with turnover as per Profit and Loss Account for preceding year does not exceeds Rs. 2 crores or such higher amount as prescribed which shall not more than one hundred crore rupees,