Rotation of auditor

This query is : Resolved

ARTHI (Querist)
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21 November 2015 Dear Friends / Experts,

Please guide me on the following, IF POSSIBLE:

A Private Limited Company having paid up capital of Rs.15 Crores and Total Income of Rs.4 Crores for FYE 31/03/14.

Query

Please confirm the 'Class for this Company'.

Your reply, please..............

Please also confirm the number of years available for rotation of auditor, if the ‘Auditor’ (Individual) has completed 9 consecutive years as on 31/03/14.

Your reply, please..............

Thanks in advance for possible replies from all concerned.

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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24 November 2015 The mandatory rotation of the statutory auditors shall be applicable to

1. Listed Companies
2. All unlisted public companies having paid up capital of Rs.10 crore or more
3.All private limited companies having paid up capital of Rs.20 crore or more
4.All companies having paid up share capital of below threshold limit mentioned in (2) & (3) above and having borrowing from financial institutions, banks or public deposits of Rs. 50
crore or more

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