Section 5 in The Companies (Audit and Auditors) Rules, 2014
5. Class of Companies.
- For the purposes of sub-section (2) of section 139, the class of companies shall mean the following classes of companies excluding one person companies and small companies:-(a)all unlisted public companies having paid up share capital of rupees ten crore or more;(b)all private limited companies having paid up share capital of rupees [fifty] [Substituted 'twenty' by Notification No. G.S.R. 621(E), dated 22.6.2017 (w.e.f. 31.3.2014).] crore or more;(c)all companies having paid up share capital of below threshold limit mentioned in (a) and (b) above, but having public borrowings from financial institutions, banks or public deposits of rupees fifty crores or more.
