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One of my client had debenture loan of rs. 200 cr. , whether caro 2015 is applicable or not
(ii) an insurance company as defined under the Insurance Act,1938 (4 of 1938);
(iii) a company licensed to operate under section 8 of the Companies Act;
(iv) a One Person Company as defined under clause ( 62) of section 2 of the Companies Act and a small company as defined under clause (85) of section 2 of the Companies Act; and
(v) a private limited company with a paid up capital and reserves not more than rupees fifty lakh and which does not have loan outstanding exceeding rupees twenty five lakh from any bank or financial institution and does not have a turnover exceeding rupees five crore at any point of time during the financial year.
As per your Query if the company is having debenture loan of Rs. 200 Crores ,CARO 2015 is applicable
Actually the case is he does not have any income during the year i.e. total turnover does not exceeded prescibed limit and
Paid up capital & reserves cumulatively does not exceed Rs. 50 lakh,
But the company is having loan fund of Rs. 200 cr.
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