07 October 2009
If person is appointed as auditor U/S 224 (1B) then
a person can be appointed as auditor of 20 companies out of which not more than 10 shall be companies each of which paid up share capital is above rs. 25 lakhs.
He can do audit of N no. of private companies.
Above limit is for 1 person, If there are more than 1 person than multiply the limit with no. of persons
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