CARO

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PRATIK

PRATIK (Querist)
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27 April 2009 WHAT IS APPLICABILITY OF COMPANY AUDITORS REPORT ORDER TO A PVT. L;TD. COMPANY

CA. B.SRINIVASULU

CA. B.SRINIVASULU (Expert)
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27 April 2009 CARO is applicable to private limited companies also.

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Gayathri Devi

Gayathri Devi (Expert)
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27 April 2009 '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.
Now a private limited Company, in order to be exempt from the applicability of the Order, must satisfy all the conditions at any point of time during the financial year.

Gayathri Devi

Gayathri Devi (Expert)
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Gayathri Devi

Gayathri Devi (Expert)
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27 April 2009

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Guest (Expert)

28 April 2009 CARO shall apply to every company including a foreign company as defined in section 591 of the Act,except the following:-

(i) a Banking company as defined in clause (c) of section 5 of the Banking Regulation Act, 1949 (10 of 1949);
(ii) an insurance company as defined in clause (21) of section 2 of the Act;
(iii) a company licensed to operate under section 25 of the Act; and
(iv) a private limited company with a paid up capital and reserves not more than fifty lakh rupees and has not accepted any public deposit and does not have loan outstanding ten lakh rupees or more from any bank or financial institution and does not have a turnover exceeding five crore rupees.