09 June 2009
It is applicable to the following: 1. If it is public company. 2. If it is a private limited company conditions for non-applicability: 1. paid up capital and reserves not more than Rs.50 Lacs and 2. which doesn’t have loan outstanding exceeding Rs.25 from any bank or Fin instn and 3. doesn’t have turnover of turnover of Rs.5 crores at any point of time during the financial year,
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