Budget 2021: Govt To Revise Definition of Small Companies

The government on Monday said the definition of small companies will be revised by raising the capital base to Rs 2 crore from the current limit of Rs 50 lakh.

Finance Minister Nirmala Sitharaman in the Union Budget for 2021-22 proposed setting up of investor charter across financial products.

She said an asset reconstruction and management company will be set up for stressed assets of banks, while also stating that the National Company Law Tribunal (NCLT) framework will be strengthened.

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