A Pvt. Ltd. company has not filed its accounts with ROC for non payment of requisite fees. Thus its accounts are not on website of MCA. The banks have enhanced guarantees limit on the basis of non filed documents by obtaining copies of audited accounts from the company. I would like to know whether the guarantees given by the banks to the company are binding on the Auditors and any civil/criminal liabilities arises on the auditors for revocation of guarantees on failure of the company to meet its liabilities? The accounts are not on public domain and any action by the banks are proper against the auditors?
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