Applicability of CARO
This query is : Resolved
05 August 2010
If a Public company subsequently becomes Pvt. Ltd. company during the financial year and all the three exemptions mentioned in the CARO'2003 is satisfied. Whether CARO is applicable since it was a Public company for some period during the Financial year.
05 August 2010
In my view, CARO will not be applicable. Since on the date of the balance sheet, the company was exempt.
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