08 July 2013
A company is having paid up capital of 1.25 Cr and free reserves of -1.8 Cr thus resulting into paid up capital and free reserves a negative figure. Company doe snot have any loan in the books and also does not have any revenue booked into the books.
Does CARO applicable on such company? If yes why it is applicable as I think it has met all 3 conditions of Non applicability of CARO?
CAclubindia
