Caro

This query is : Resolved

Guest

Guest (Querist)

03 January 2013 Hi,

Someone may please reply to the following query(s):

ABC Private Limited had:

- paid up capital Rs.1 Lac and

- Reserves and Surplus (negative balance) Rs.2 Crores as on 31.03.12.

- turnover Rs.1.95 Crores.

- no secured loans from banks or any parties.

Query

Whether CARO shall apply to the said company, which has NEGATIVE BALANCE of Rs.2 Crores of Reserves and surplus ?

Ans : .......................

Thanks.

CA Lokesh Pokharna

CA Lokesh Pokharna (Expert)
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03 January 2013 Not applicable.........because there word used paid up capital & reserves do not exceeds 50 lacs, which is positive balance....
and tell me how can be r & s balance be 200 lac nagative while paid up cap only 1 lac.