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CARO Applicability wrt Small Comapnies

Pvt ltd 514 views 1 replies

Dear All,

1. company turnover below 40 crore and

2. PSC < 40 Cr

3. loan from Financial institutions is above 5 crore

 

weather caro applicable

 

In my opinion , the said company is small company and hence CARO is not applicable.

 

Views solicited. 

Replies (1)
According to section 2(85) of the Companies Act, 2013, a small company means a company that meets the following criteria:

Condition 1: Paid-up capital of the company should not exceed INR 4 Crores; and
Condition 2: Turnover of the company should not exceed INR 40 Crores.


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