Caro 2003

The limit is 25 Lacs.

guys its 25 lakhs as per all final books and suggested..

A Private Ltd. company shall be exempt from the provisions of CARO, if it satisfies the below mentioned rules:

i) Aggregate of Paid Up Capital and Reserves should not exceed Rs. 50 lacs;

ii) Loan O/S from any Bank or Financial Institution should not exceed Rs. 25 lacs; and

iii) Turnover should not exceed Rs. 5 crores.

CARO 2003 specified an original limit of 10L, the amendment to the order, CARO, 2004 raised the limit to 25L.

Hence the limit is 25L.

Hope that answers your query.

The condition regarding it not accepting public deposits remains the same.

to remoove confusion please read the following

Short title, application and commencement:
(a) This Order may be called the Companies (Auditor’s Report) Order, 2003.
(b) It shall apply to every company including a foreign company as defined in Section 591 of the Act, except the following:
(i) A Banking company as defined in Section 5(c) of the Banking Regulation Act, 1949 (10 of 1949);
(ii) An insurance company as defined in Section 2(21) of the Act;
(iii) A company licensed to operate under Section 25 of the Act; and
(iv) A private limited company with a paid up capital and reserves not more than ` 50 lakh and which does not have loan outstanding exceeding ` 25 lakh from any bank or financial institution and does not have a turnover exceeding ` 5 crore at any point of time during the financial year.
(c) It shall come into force on the 1st day of July 2003.