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.
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CARO Applicability wrt Small Comapnies
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.
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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