Internal audit – As per sec 138 , o/s loans and borrowings at any point of time during preceding FY is >=100 crores hai ki only >100 crores hai?

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Rahul Raval asked 3 years ago

Question Tags: As per sec 138, o/s loans and borrowings at any point of time during preceding FY is >=100 crores hai ki only >100 crores hai?

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Ravi Staff answered 3 years ago

at any point during the year

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Ravi Staff answered 3 years ago

Companies required to appoint Internal auditor
13. (1)The following class of companies shall be required to appoint an internal auditor 1[which may be either an individual or a partnership firm or a body corporate] namely:—

(a)

every listed company;

(b)

every unlisted public company having-

(i)

paid up share capital of fifty crore rupees or more during the preceding financial year; or

(ii)

turnover of two hundred crore rupees or more during the preceding financial year, or

(iii)

outstanding loans or borrowings from banks or public financial institutions exceeding one hundred crore rupees or more at any point of time during the preceding financial year; or

(iv)

outstanding deposits of twenty five crore rupees or more at any point of time during the preceding financial year: and

(i)

turnover of two hundred crore rupees or more during the preceding financial year, or

(ii)

outstanding loans or borrowings from banks or public financial institutions exceeding one hundred crore rupees or more at any point of lime during the preceding financial year: