Caro, 2003
This query is : Resolved
06 July 2012
Balance Sheet of a private company which is a subsidiary of a Public Limited Co. reports as follows :
1. Share Capital- Rs. 25 Lacs
2. Reserves- Rs. 20 Lacs
3. Loans- Rs. 20 Lacs
4. Turnover- Rs. 4.50 Crores
Whether CARO is applicable
1. Share Capital- Rs. 25 Lacs
2. Reserves- Rs. 20 Lacs
3. Loans- Rs. 20 Lacs
4. Turnover- Rs. 4.50 Crores
Whether CARO is applicable
06 July 2012
Dear Friend, for applicability of CARO following conditions are applicable;
1. Paid Up Share Capital and reserves should be more than Rs. 50.00 Lacs.
2. Borrowings from banks are more than 25.00 Lacs.
3. Turnover should be more than 5.00 Crore
Thus CARo is not applicable to your company. Thanks
1. Paid Up Share Capital and reserves should be more than Rs. 50.00 Lacs.
2. Borrowings from banks are more than 25.00 Lacs.
3. Turnover should be more than 5.00 Crore
Thus CARo is not applicable to your company. Thanks
06 July 2012
Does this mean the fact that company is a subsidiary of public company does not have any impact on CARO applicability?
Thanks in advance..
Thanks in advance..
06 July 2012
This limits only applicable for private ltd co.
caro is not applicable to banking and insurance co. too.
caro is mandatory for public co.
caro is not applicable to banking and insurance co. too.
caro is mandatory for public co.
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