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Applicability of CARO

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(Querist)
07 August 2010 My Question is about the applicability of CARO:-

- Is Share Premium the part of Reserve & Surplus??
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
07 August 2010 As per CARO guidance note
For determining the applicability of the Order to a private limited company, both capital as well as revenue reserves should be taken into consideration while computing the limit of rupees fifty lakhs prescribed for paid-up capital and reserves.

So your answer yes.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
07 August 2010 Securities premium amount is in the nature of capital reserve. Wordings of Clause 19, page 6 (April 2004 edition) of the ICAI publication "statement on the companies (Auditor's Report)order,2003" is given by Aditya Ji which can be very well followed.
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