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.
CAclubindia
