AB Ltd has borrowed INR 1,25,00,000 from directors . No borrowing from financial institutions and bank during the year. Whether CARO applicable for AB Ltd or not ?
1 Replies
madhavendra shenoy
(4 Points)
Replied 01 January 2022
Exemption given is only for certain private companies which fulfill certain cumulative creteria. Since in the instant case, it's a Public Company, CARO should be applicable.
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