caro

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sachin kumar (Querist)
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01 November 2010 if a pvt company has the bank overdraft outstanding at the year end exceeds Rs 25 lacs whether caro is applicable or not?
remember it's bank overdraft not a term loan

Aditya Maheshwari

Aditya Maheshwari (Expert)
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01 November 2010 the condition is does not have loan outstanding twenty five lakh rupees or more from any bank or financial institution.

Since bank od is also it will apply.

Ajay Mishra

Ajay Mishra (Expert)
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02 November 2010 Agreed with Aditya.......

'a private limited company with a paid up capital and reserves not more than rupees fifty lakh and which does not have loan outstanding exceeding rupees twenty five lakh from any bank or financial institution and does not have a turnover exceeding rupees five crore at any point of time during the financial year.

Regards

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