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Caro

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(Querist)
17 July 2013 A Public Co. have given loan to its director Rs.-89,95,000.00 & Rs. 94,21,335 to another Limited company, in which directorsof the supra are interested in it & Rs. 65,495 to another Pvt. ltd. co. in which also directors of the supra are interested. So, what as an auditor we need to report in the CARO Report as per sec 301, 299 & 298 of the companies Act& as per Clause 3 & 5 of CARO
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
17 July 2013 in my view u need to report about the fact that directors are intrested person and whether the req for loan tobegiven to directors like special resolution is passed etc is fullfilled or not.

also you need to check the diclosure as per AS 18- Related party disclosure.
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Varun Gupta

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Varun Gupta (Querist)
17 July 2013 AS-18 is not applicable as it belongs to the level iii enterprise
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