23 August 2011
As per Section 233A of the Companies Act, 1956 .The affairs of any company are carried out in such manner whereby it is:
1. injurious to the trade
2 it’s not beneficial to the creditors or creditors are subject to fraud. The central gvt. by itself or by an application made by any person may order for special audit.
The central gvt. Will nominate CA to act as a special auditor. He need not hold a certificate of practice.
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