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would CARO applicable for Private limited company

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(Querist)
04 October 2016 .
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CA SAGAR M. AHUJA

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CA SAGAR M. AHUJA (Expert)
04 October 2016 A private limited company, not being a subsidiary or holding company of a public company,
1. Having a paid up capital and reserves and surplus not more than rupees one crore as on the balance sheet date and
2.Which does not have total borrowings exceeding rupees one crore from any bank or financial institution at any point of time during the financial year
and
3. Which does not have a total revenue as disclosed in Scheduled III to the Companies Act, 2013 (including revenue from discontinuing operations) exceeding rupees ten crore during the financial year as per the financial statements.
If all the three condition are satisfied by Pvt. Ltd. than it it not applicable to that company but if any one limit is crossed by Pvt. Ltd. than CARO will be applicable.
Thanks.
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