Auditaudit Staff asked 2 years ago
1 Answers
RaviRavi Staff answered 2 years ago

CARO reporting is required under clause 3
if loans to related parties are
1. Prejudicial (harmful) to company
2. Not recovered regularly as per contract
3. No steps of recovery on default
no such circumstances exist in above case so no reporting required
in earlier caro 2003 and caro 2015 reporting was required for total loans and total parties now not required

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