CARO

This query is : Resolved 

25 June 2011 When the company is default to pay to the non-Banking financial institution, is it required to state in the CARO report?

25 June 2011 Point 3.5.1 of CARO:Has the company taken any loans, secured or unsecured from companies, firms or other parties listed in the register maintained u/s 301 of the Companies Act. Give No. of parties and amount involved in transactions.(Maximum
balance outstanding at any time during the year for each party should be considered )

----From the above it is clear that loan which was taken from NBFC also covered under CARO.

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