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Caro applicability

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(Querist)
14 September 2016 A Private Limited Company having paid up capital Rs.68,24,180/- and Reserve & Surplus negative Balance of Rs. (-) 2,29,66,000/-, Please let me know whether CARO applicable or not for F.Y. 2011-12
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CA SUNIL K GARG

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CA SUNIL K GARG (Expert)
14 September 2016 In case of private limited company, caro will be applicableonly if satisfies one of the following conditions:-
1.paid up share capital & free reserves exceeds Rs. 50 lakhs
2. Loan outstanding from any bank or financial institutions exceeds Rs. 25 lakhs
3. Turnover exceeds Rs. 5 crores in any day during the financial year.

Even if one of the above condition is satisfied then CARO is applicable.
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