The Ministry of Corporate Affairs has issued an order dated 4th September, 2014 to clarify the issues with respect to 143 of the Companies Act, 2013.
In section 143 of the Companies Act, 2013 in sub-section (5), for the portion beginning with the words ” In the case of a Government company” and ending with the words “required to be audited and”, the following shall be substituted, namely :
“In the case of a Government company 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”.
The order containing the above details can also be accessed below.
