Caro 2003 applicablity in pvt ltd

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karan (Querist)
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15 October 2013 With reference to the above our pvt ltd company having paid capital & free reserves of Rs.2,51,000
Turnover Of Rs.2,81,00000 & Loans Outstanding as on 31/3/2013 (Bank Od 24 Lacks, Machinery Loan 15 Lacks, Term Loan 20 Lacks) For F.y 2012-13.

Whether Caro 2003 is Applicable or Not.

Ajay Mishra

Ajay Mishra (Expert)
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15 October 2013 As per CARO amendment 2004:

'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.

I think it will be applicable.

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