Submission of Annual Performance Report based on unaudited JV/WOS accounts allowed when host law lacks audit mandate, subject to certification. Corrigendum to Regulation 15 adds sub regulation (v) (deemed effective March 28, 2012) permitting submission of the Annual Performance Report (APR) based on un audited annual accounts of a JV/WOS where the host country does not require mandatory auditing, provided: (a) the Statutory Auditors of the Indian party certify that the un audited accounts reflect a true and fair picture of the JV/WOS affairs; and (b) those un audited accounts have been adopted and ratified by the Board of the Indian party.
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.
Submission of Annual Performance Report based on unaudited JV/WOS accounts allowed when host law lacks audit mandate, subject to certification.
Corrigendum to Regulation 15 adds sub regulation (v) (deemed effective March 28, 2012) permitting submission of the Annual Performance Report (APR) based on un audited annual accounts of a JV/WOS where the host country does not require mandatory auditing, provided: (a) the Statutory Auditors of the Indian party certify that the un audited accounts reflect a true and fair picture of the JV/WOS affairs; and (b) those un audited accounts have been adopted and ratified by the Board of the Indian party.
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