Class of companies defined by paid-up capital and public borrowings thresholds determines audit applicability. The class of companies for sub section (2) of section 139 excludes one person companies and small companies and comprises: unlisted public companies with paid up share capital at or above the prescribed threshold; private limited companies with paid up share capital at or above the prescribed higher threshold; and companies below those capital thresholds but with public borrowings from financial institutions, banks, or public deposits at or above the prescribed borrowings threshold.
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.
Class of companies defined by paid-up capital and public borrowings thresholds determines audit applicability.
The class of companies for sub section (2) of section 139 excludes one person companies and small companies and comprises: unlisted public companies with paid up share capital at or above the prescribed threshold; private limited companies with paid up share capital at or above the prescribed higher threshold; and companies below those capital thresholds but with public borrowings from financial institutions, banks, or public deposits at or above the prescribed borrowings threshold.
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