Kalinga pandaKalinga panda asked 1 year ago

<ul> <li> <blockquote>Why and on what basis CARO isnot applicable to banking and insurance co. Where’s applicable to electricity co.</blockquote> </li> <li>As per clause title deed should be verified for immovable property, why movable property arenot included in the list.</li> </ul>

1 Answers
RaviRavi Staff answered 1 year ago

CARO 2016 , Para 1 Specifies Exemption to Banking Co & Insurance Co because their auditors do lot of reporting as per RBI & IRDA requirements, so they are given exemption.
Because immovable properties are comparatively much more valuable , and these documents can be misused for financing , hence they are more important and only they are covered.

Call Back Request