Archive

All you need to know about internal Audit of the company

All you need to know about internal Audit of the company The concept of internal audit was not expressly provided in the 1956 Act, and it did not make it compulsory for any company or type of companies to have an internal audit system. However, the importance of internal audit had been well acknowledgement in Companies (Audit Report) order, 2003, by requiring the auditor of certain classes of companies to comment on this area. According to the order, the statutory…

Read More

Winding up of the registered company under the companies Act, 2013

Winding up of the registered company under the companies Act, 2013 The company may, on a petition under section 272, be winding up by the Tribunal,- If the company is unable to pay its debts; If the company has, by special resolution, resolved that the company be wound up by the tribunal; If the company has acted against the interests of the sovereignty and integrity of India, the security of the state, friendly relations with foreign states, public order, decency…

Read More