Revocation of exemption allows central government to withdraw branch audit exemptions when terms breached or circumstances materially change. The Central Government may revoke an exemption under the Companies (Branch Audit Exemption) Rules, 1961 after giving the company a reasonable opportunity to object, if there is a contravention of exemption terms, a material alteration in circumstances relating to scrutiny, check or audit of branch office accounts, or any other reason leading the Central Government to conclude the exemption is no longer necessary or justified.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Revocation of exemption allows central government to withdraw branch audit exemptions when terms breached or circumstances materially change.
The Central Government may revoke an exemption under the Companies (Branch Audit Exemption) Rules, 1961 after giving the company a reasonable opportunity to object, if there is a contravention of exemption terms, a material alteration in circumstances relating to scrutiny, check or audit of branch office accounts, or any other reason leading the Central Government to conclude the exemption is no longer necessary or justified.
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