Conditional auditor appointment exemption for prescribed classes of companies under the Companies Act's amended framework. Section 139 is amended to insert a sub-section stating that such class or classes of companies as fulfil prescribed conditions shall not be required to ... Summary
Conditional auditor appointment exemption for prescribed classes of companies under the Companies Act's amended framework.
Section 139 is amended to insert a sub-section stating that such class or classes of companies as fulfil prescribed conditions shall not be required to appoint auditors under the relevant chapter. The provision creates a conditional exemption from the ordinary auditor-appointment requirement, with eligibility determined by the prescribed class of companies and the conditions attached to that class.
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