CARO Applicability: The order shall be applicable to:

1. Banking Company
2. Insurance Company
3. Section 25 Company
4. A private limited company with a paid-up and reserves not more than rupees “50 Lakhs ” and which does not have outstanding loan exceeding rupees “25 Lakhs” from any bank or financial institution and does not have a turnover exceeding rupees “5 Crores” at any point of time during the financial year.

For More Learning CLICK HERE

It clearly says loan from financial institution, hence loans from directors will not be considered in calculation CARO Applicability

Agree  with Mr.Praveen

Thank you Mr.Praveen

All aboutCARO

Download Now (300 KB)