Caro 2016 - applicability

CA Bijay Shrestha (Never Give up....No matter what....)   (858 Points)

02 June 2017  

Dear friends,

CARO 2016 is applicable to Public Company and a private company which is a subsidiary or holding company of a Public Company.

Now my query is:

A Private Company (Say X) is a subsidiary of another Private Company (Y) and Y is again subdiary of a Public Company (Z).

Now CARO 2016 is applicable to X or not ?