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Applicability of CARO

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05 August 2010 If a Public company subsequently becomes Pvt. Ltd. company during the financial year and all the three exemptions mentioned in the CARO'2003 is satisfied. Whether CARO is applicable since it was a Public company for some period during the Financial year.
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Rasesh

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Rasesh (Expert)
05 August 2010 In my view, CARO will not be applicable. Since on the date of the balance sheet, the company was exempt.

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