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.
Related terms
- 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(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.
- 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.
- CARO Clause 3(xiv) — Internal Audit System
Requires reporting on whether the company has an internal audit system commensurate with its size and nature of business, and whether internal audit reports were considered by the statutory auditor.
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