With an intent to ease of doing business and reduce stiff compliances for the MSME sector, the Ministry of Corporate Affairs (MCA) has changed the definition of a small company. Now, as per the new guidelines a small company is that with a paid up capital of INR 4 crores and a turnover of INR 40 crores.
The Telegraph has written an article on this, where Economic Laws Practice (ELP) Laws Practice’s Partner Manendra Singh’ s views have been sought.
