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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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