Caro applicability

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

 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.

Is Sh application money is considered for aggregate value of Sh Capital and reserve and surplus

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 ?