C A R O (2003), Corporate Laws / SEBI / LLP

[loganathan devarajulu]

applicability of the  CARO  COMPANY'S AUDIOTRS REPORT  ORDER 2003 in the case of the pvt ltd co having paid up capital and reserves exceeding  Rs. 100 00 000/-

the turnover of the co does not exceed five cores

the co does not accejpted any public deposits

the co does not availed any loan exceeding rs. 25,00,000  from any financial institution and banks  

Posts / Replies

[shah nikhil]

Exception of caro :-

private limited company with a paid up
capital and reserves <= Rs.50 lacs and has not accepted any public deposit
and does not have a loan outstanding from any bank or financial institution of
=> Rs.10 lacs and does not have a turnover > Rs.5 crores

 

for non appllicability all four codition is requred to be fulfilled

otherwise CARO is applicable

[Venkatesan K]

Company's Auditor's Report order does not talk about satisfaction of all the conditions in order to be applicable for a private limited company. since the paid up share capital and reserves of the company exceeds Rs. 50 Lakhs as has been mentioned, CARO requirements shall become applicable.