07 August 2010
As per CARO guidance note For determining the applicability of the Order to a private limited company, both capital as well as revenue reserves should be taken into consideration while computing the limit of rupees fifty lakhs prescribed for paid-up capital and reserves.
07 August 2010
Securities premium amount is in the nature of capital reserve. Wordings of Clause 19, page 6 (April 2004 edition) of the ICAI publication "statement on the companies (Auditor's Report)order,2003" is given by Aditya Ji which can be very well followed.