if a pvt co is having paid up capital for rs 49,90,000 and reserve and surpluds(opening profit+cy profit) near about 16 l will caro will be applicable or not?
if a pvt co is having paid up capital for rs 49,90,000 and reserve and surpluds(opening profit+cy profit) near about 16 l will caro will be applicable or not?
Vandana J Doshi
(Practising Company Secretary)
(12562 Points)
Replied 18 October 2013
Hi, Pls refer the following link for solution of your query...
/forum/applicability-of-caro-2004-for-private-limited-cos-9630.asp#.UmDIQSc2LFw
Hopefully it will solve your query....if not, revert here...
Regards
mangesh mittal
(Student CA Final )
(40 Points)
Replied 18 October 2013
CARO came into force on 1-7-2003. It applies to all Companies, including foreign companies defined u/s.591 of the Companies Act (Act). It is, however, provided that this order shall not apply to follow-ing companies :
(i) A banking company
(ii) An insurance company
(iii) A company registered
u/s.25 of the Act
(iv) A private limited company which satisfies the following conditions :
(a) Its paid up capital and reserves do not exceed Rs.50 lacs;
(b) It has not accepted any public deposits;
(c) Its turnover does not exceed Rs.5 crores; and.
(d) Its outstanding loan from any bank or financial institution does not exceed Rs.10 lacs.
If any of the above conditions are not satisfied, the above order will apply to the private limited company.
So caro will not be applicable in your case.
Mayank Srivastava
(Practice)
(62 Points)
Replied 18 October 2013
sanjeev
(article)
(86 Points)
Replied 18 October 2013
Mayank Srivastava
(Practice)
(62 Points)
Replied 18 October 2013
NIKHIL GUPTA
(Student CA Final)
(23 Points)
Replied 06 September 2014
Is Sh application money is considered for aggregate value of Sh Capital and reserve and surplus
kamachishankar
(CA Final Group 2 Cleared and Awaiting Group !)
(21 Points)
Replied 28 September 2014
ankit
(NA)
(38 Points)
Replied 07 November 2014
can loan from fianancial institution include both secured and unsecured ? and can also include both short term and long term ?long term secured loan 12 lakh
long term unseured loan 5 lakh
short term secured 3 lakh
short term unsecured loan 10 lakh
CARO Applicable for prvt. company in above case ?
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