applicability of CARO
This query is : Resolved
23 November 2009
Dear all,
I have a doubt about one of the applicable rule of CARO. Whether the Company does not have loan outstanding exceeding 25 lakh
rupees from any bank or financial institution, at any point of time during
the year?
then CARO is not applicable to the company.
so my doubt is the loan amount outstanding of Rs.25 lakh from one bank or financial institute or from all the banks or financial institutes please resolve my question.
thank you.
reg. vamsi
I have a doubt about one of the applicable rule of CARO. Whether the Company does not have loan outstanding exceeding 25 lakh
rupees from any bank or financial institution, at any point of time during
the year?
then CARO is not applicable to the company.
so my doubt is the loan amount outstanding of Rs.25 lakh from one bank or financial institute or from all the banks or financial institutes please resolve my question.
thank you.
reg. vamsi
08 December 2009
Number of lenders is immaterial but the amount borrowed need alone be considered.
CA Ravi Sisodia
(Expert)
08 December 2009
agree with Warrier sir
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