CARO

CARO shall apply to every company including a foreign company as defined in section 591 of the Act, except the following :-

- a Banking company as defined in clause (c) of section 5 of the Banking Regulation Act, 1949 (10 of 1949);

- an insurance company as defined in clause (21) of section 2 of the Act;

- a company licensed to operate under section 25 of the Act; and

- a private limited company with a paid-up capital and reserves not more than Rs. 50 lakh and does not have loan outstanding exceeding Rs. 25 lakhs from any bank or financial institution and does not have a turnover exceeding Rs. 5 crores at any point of time during the financial year\

Thus, in case of Public Company, CARO will apply in all case... :)

For CARO Reporting refer following link or find attached file :-

https://wirc-icai.org/WIRC_REFERENCER/Company%20Law/Caro%202003.htm

Arvind sharma is absolutely right