COMPANIES (REMOVAL OF DIFFICULTIES) SEVENTH ORDER 2014

Ministry of Corporate Affairs has issued “The Companies (Removal of Difficulties) Seventh Order 2014 on 4th September 2014. This ROD is to amend the sub section (5) of section 143 of the Companies Act, 2013. The amended sub section is as below;

In the case of a Government company, the Comptroller and Auditor-General of India shall appoint the auditor under sub-section (5) or sub-section (7) of section 139 and direct such auditor the manner in which the accounts of the Government company are required to be audited or any other company owned or controlled, directly or indirectly, by the Central Government, or by any State Government or Governments, or partly by the Central Government and partly by one or more State Governments, the Comptroller and Auditor-General of India shall appoint the auditor under sub-section (5) or sub-section (7) of section 139 and direct such auditor the manner in which the accounts of the company are required to be audited and thereupon the auditor so appointed shall submit a copy of the audit report to the Comptroller and Auditor-General of India which, among other things, include the directions, if any, issued by the Comptroller and Auditor-General of India, the action taken thereon and its impact on the accounts and financial statement of the company.

 

You can read the full text of this order from the following links;

http://mca.gov.in/Ministry/pdf/ROD_7th_2014.pdf

 

Thanks & Regards:

KASHIF ALI & ASSOCIATES
Company Secretaries

268, Business India Complex,
Uday Park, New Delhi-110049
Call us: +91 9718483209
Mail:  cs.kashifali@gmail.com

 

 

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