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    Question

    CARO, 2020 is applicable to which of the following

    companies?
    A Banking companies Correct Answer Incorrect Answer
    B Private company with ₹10 crore turnover Correct Answer Incorrect Answer
    C One-person companies Correct Answer Incorrect Answer
    D Section 8 companies Correct Answer Incorrect Answer

    Solution

    CARO applies to private companies only if: • Turnover ≥ ₹10 crore • Borrowings ≥ ₹1 crore • Not a small company/OPC/Section 8 Thus, B is correct.

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