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Companies exe...

Question

Companies exempted from application of CARO, $2016$ does not include _________________.

A

a banking company

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B

an insurance company

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C

a private limited company with paid up capital and reserves not more than fifty five lakh

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D

a licensed company

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Solution

The correct option is D a private limited company with paid up capital and reserves not more than fifty five lakh
CARO stands for Companies Audit Report Order. It is issued by central government in accordance with the companies act.It exempts banking company, insurance company, licensed company, one person company and small company
Note: A licensed company means one which is registered with charitable objectives.

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