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CARO applicable or not

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28 May 2009 Will anybody please tell me if the CARO applicable to a private limited co. having Share Capital Plus Reserves of Rs. 35 lakhs, Turnover exceeding Rs. 5 crores and loan from banks exceeding Rs. 25 Lakhs. Two of the conditions for the applicability of CARO are met and one condition regarding net worth is not met. Then CARO is applicable or not?????????
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Jagruti (CS)

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Jagruti (CS) (Expert)
28 May 2009 If any of one conditions out of 3 are complied than CARO will be applicable.

Hence inversly u can say that all 3 conditions are required for availling exemption & if any one is falling under any of 3 criteria tha CARO is applicable.
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