As per Rule 13 an unlisted company will be required to have internal audit if it meets certain conditions. One of the condition is outstanding loan or borrowings from Banks OR financial institutions exceeding 100 crores. Question if a company has borrowed 40 crores from Banks and 90 crores from public financial institutions will internal audit he applicable. The language does not use the verbiage aggregate, so am confused if the aggregate should be compared for 100 crores. 1st April 2019 (0)
If company does not comply with sec 138 within 6 months, thn. What is the consequences for the same?????? 18th August 2017 (0)
If internal auditor found a fraud exceeding Rs. 1 Crore, then will he be required to report the fraud to CG? under section 143(12). 18th February 2017 (0)
