CARO Clause 3(xi) — Fraud Reporting
Requires reporting on whether any fraud by or on the company has been noticed or reported during the year, the nature and amount involved, and whether a fraud report under Section 143(12) was filed.
Related terms
- CARO Clause 3(viii) — Unrecorded Income
Requires reporting on whether any transactions not recorded in the books have been surrendered or disclosed as income in tax assessments, and if so, whether this has been properly recorded.
- CARO Clause 3(x) — Utilisation of Issue Proceeds
Requires reporting on whether money raised through an initial public offer, further public offer, or private placement of shares or debentures was utilised for the purposes it was raised for.
- CARO Clause 3(xii) — Nidhi Company Compliance
Applicable only to Nidhi companies, requiring reporting on compliance with the net owned funds to deposits ratio and other Nidhi-specific regulatory requirements.
- CARO Clause 3(xiii) — Related Party Compliance
Requires reporting on whether related party transactions comply with Sections 177 and 188 of the Companies Act and have been disclosed as required by the applicable accounting standards.
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