SUNIL THADHANI (PROPRIETOR) (25 Points)
02 July 2012CAN U PLS HELP ME TO RESOLVE FOLLOWING ISSUE???
WHETHER CARO IS APPLICABLE TO PVT CO. WHICH IS SUBSIDIARY OF PUBLIC CO.????
CA Navin Jain
(MANAGER (FINANCE & ACCOUNTS))
(11768 Points)
Replied 02 July 2012
Check the followimg conditions:-
private limited company having :
Futher:- all accounting standard shall be applicable on pvt ltd company since company is a SUBSIDIARY OF PUBLIC CO.
SUNIL THADHANI
(PROPRIETOR)
(25 Points)
Replied 02 July 2012
OK..BT THE TERM PVT LTD. CO. AS USED IN CARO SHLD BE CONSTRUED TO MEAN THE CO. REGSTRD AS A PVT CO.(AS PER SEC 3(1)(III).AND THAT INCLUDES PVT CO. SUBSIDIARY OF LTD CO.WHETHER THE ORDER APPLICABLE TO PVT CO. SUBSIDIARY OF LTD CO. ???
public company" means a company which-
(a) is not a private company;
(b) has a minimum paid-up capital of five lakh rupees or such higher paid-up capital, as may be prescribed;
(c) is a private company which is a subsidiary of a company which is not a private company.]
Jagdish Patel
(Article Assiatant)
(24 Points)
Replied 02 July 2012
Where there is given the word only PVT. LTD. it means PURE PVT. LTD. only.
CA.Varalakshmi.M
(Manager-Finance)
(482 Points)
Replied 02 July 2012
loan outstanding less than Rs. 10 lakhs from banks and FI,
Is this limit is 25 lakhs or 10 L pls clarify
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