Multiple choice

Which of the following classes of companies is covered under rotation scheme of auditors?

  1. Unlisted public companies having paid up capital of Rs. 5 crore or more

  2. Private companies having paid up capital of Rs. 20 crore or more

  3. All companies having public borrowing from financial institution, banks or public deposits of Rs. 20 crore or more

  4. All private companies

  5. Only for public companies
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Rotation scheme of auditors is applicable to private companies having paid up capital of Rs. 20 crore or more as per Section 139 of Companies Act, 2013.

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