Is lock in periodof 5 years for auditors applied to Private companies also. From when are the five years calculated? Commencement of 2013 Act or are prior financial years included??What are the existing private companies having paid up capitl less than Rs 20 crores supposed to do??
Hi,
it is applicable for only those private companies having paid up cap >20 crores or having public borrowings from financial institutions, banks or public deposits of rupees fifty crores or more. For companies not falling in this category, the provisions of rotation of auditors wil not be applicable.
Hello Friend!
Please provide me the entire process for appointment of auditor in pvt ltd company
Thanks in advance
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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