Preetham, Caro order may be read with Sec4(7) of companies Act.Then we may have to take the conclusion that the private subsidiary company in question will eventually become the subsidiary of a public company and consequently a public company vide section 3(iv) of companies Act. Accordingly . CARO becomes applicable.
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CA Final audit paper!! caro and schedule vi!!!
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Preetham, Caro order may be read with Sec4(7) of companies Act.Then we may have to take the conclusion that the private subsidiary company in question will eventually become the subsidiary of a public company and consequently a public company vide section 3(iv) of companies Act. Accordingly . CARO becomes applicable.
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