Hello everyone, want to share a interesting point, some of you must have noticed it, its relevant for CARO. It can be used to get many advantages.
Private company which is subsidiary of public company will be deemed to be public company taking away all benefits of private company.
But to boost foreign companies and increase ease of doing business in India, MCA clarified that status of private company which is subsidiary of foreign holding company will not change that means deeming provisions will not be applicable to them. (Earlier 100% should be held by one or more foreign bodies was required, now there is no such condition )
so be careful in exams in such cases company can get exemption from CARO. And in practical life you can have added advantage.