CARO 2016 Remember in 3 Minutes

Learning Shortcut for CARO Para-3

The entire learning can be divided in 3 parts:
1. For Point No 1 to 8:-
F I L L your bank account with C C (short form of cash credit) use it to pay the STATUTORY DUES and make no DEFAULT IN REPAYMENT OF LOANS & BORROWINGS.

2. For Point 9,10 & 11:-
Register a Company & issue IPO use it for correct purpose without any FRAUD and don’t forget to pay MANAGERIAL REMUNERATION on time.

3. For Point 12-16:
Ask your secretary NIDHI for 4 C’s (compliances of Companies Act 2013):
1. Compliance with section 177 & 188 for related party transactions.
2. Compliance with section 42 for Preferential allotment and private placement.
3. Compliance with section 192 for Non Cash Transaction.
4. Compliance with section 45-IA of RBI Act.

All CARO 16 Points:-

Fixed Assets
Loans to parties covered Under section 189
Loans, Investments guarantees and securities under section 185 & 186
Compliance of Section 73 to 76 & RBI for Deposits
Cost Records U/s 148 of Companies Act 2013
Statutory Dues
Default in repayments of Loans or Borrowings
Managerial Remuneration – Compliance of section 197 of Companies Act 2013
Nidhi Companies – Compliances of Nidhi Rules 2014
Related parties transactions
Preferential allotment and private placement
Non Cash Transactions
Section 45-IA of RBI Act


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