Advertisement
This Article is From Feb 01, 2021

Government To Revise Definition Of Small Companies: Finance Minister

Budget 2021: Nirmala Sitharaman 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.

Government To Revise Definition Of Small Companies: Finance Minister
The government said definition of small companies will be revised by raising capital base to Rs 2 crore
New Delhi:

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

In the Union Budget for 2021-22, Finance Minister Nirmala Sitharaman 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.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

Track Latest News Live on NDTV.com and get news updates from India and around the world

Follow us:
Listen to the latest songs, only on JioSaavn.com