Caro applicability
This query is : Resolved
08 November 2013
If a pvt company fulfills all conditions relating caro applicability I.e paid up capital reserves is less than or = 50 lacs, o/s loan from Bank or financial institutions is less than or = 25 lacs and turnovers does nt exceed 5 crores BUT it has accepted public deposits. Is caro applicable to that company coz it has accepted public deposits? Or is public deposits included in limit of 25 lacs ?
CA.Shubhneet Kaur
(Expert)
12 November 2013
Pvt Ltd Co. cannot accept Public Deposit
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