Whether CARO is applicable to Windmill company.
3 Replies
sai
(student)
(48 Points)
Replied 29 July 2010
CARO,2003 is applicable to all companies except certain categories of companies specifically exempted from the application of the order.
These exemptions are not given based on the type of industry in which a company operates.
Rather, exemptions are given to certain companies such as banking companies,insurance companies,Section 25 companies and to certain private companies which fall within the limits specified.
Jagruti (CS)
(Service)
(1953 Points)
Replied 30 July 2010
Also check if any of the following 3 conditions are fulfilled than Caro is applicable to Company irrespective of Business
- Paid up capital & reserves - exceeds 50 lacs
- Turnover more than 5 crore
- Borrowing from banks as Financial Institution is 25 lacs & more
sai
(student)
(48 Points)
Replied 30 July 2010
The limits specified above are with respect to private limited companies only.
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