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 ... Summary
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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