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Contravention of sec. 185

RoHaN k (CA & CS) (308 Points)

19 June 2014

Does contravention of section 185 need to report by auditor ?

whether CARO reporting applicable for the same ?

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5 Replies

P C Agrawal (Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad) (8229 Points)
Replied 19 June 2014

CARO is yet to be amended as per Companies Act 2013.

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RoHaN k (CA & CS) (308 Points)
Replied 19 June 2014

But sir , whether auditor needs to qualify the report if there is a contravention of Sec.185?

P C Agrawal (Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad) (8229 Points)
Replied 19 June 2014

When there is no amendment in CARO for Sec.185, where is the question of reporting non-compliance?

RoHaN k (CA & CS) (308 Points)
Replied 19 June 2014

Sir ,

CARO is one of the reporting requirement.

The company which are not elgible for CARO reporting , whether such 185 contravention need to be reported and need qualification in such case or not ?

Because I am confused whether Violation of law is a reason of qualification ? Because it is not specificaly mentioned u/s 143.

If Auditor need to qualify such contravention then followed by this board report also have to comment on such contravention.