06 July 2012
Balance Sheet of a private company which is a subsidiary of a Public Limited Co. reports as follows : 1. Share Capital- Rs. 25 Lacs 2. Reserves- Rs. 20 Lacs 3. Loans- Rs. 20 Lacs 4. Turnover- Rs. 4.50 Crores
06 July 2012
Dear Friend, for applicability of CARO following conditions are applicable;
1. Paid Up Share Capital and reserves should be more than Rs. 50.00 Lacs. 2. Borrowings from banks are more than 25.00 Lacs. 3. Turnover should be more than 5.00 Crore
Thus CARo is not applicable to your company. Thanks
CAclubindia
