Applicability of caro
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 June 2013
If a pvt. ltd. co. has taken an unsecured loan amounting to Rs. 30 lacs from ABC Pvt. Ltd. Co. which is a Finance Company, will CARO be applicable ???
Ajay Mishra
(Expert)
19 June 2013
Hi
CARO will be applicable on a private limited company with a paid up capital and reserves not more than rupees fifty lakh and which does not have loan outstanding exceeding rupees twenty five lakh from any bank or financial institution and does not have a turnover exceeding rupees five crore at any point of time during the financial year.
CARO will be applicable on a private limited company with a paid up capital and reserves not more than rupees fifty lakh and which does not have loan outstanding exceeding rupees twenty five lakh from any bank or financial institution and does not have a turnover exceeding rupees five crore at any point of time during the financial year.
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