Hi,
If the Auditor report of any company is showing the remarks the accumulated losses exceeding fifty percent of its net worth at the end of the financial year. in the Bsheet of 2012.
Pls suggest following ---
1) whether this company falls within perview of Sick company ?
2 ) if yes and if it has not reported to BIFR , then any one (not a director , not a member , not a creditor and not even a related party ) can bring such irregularity in notice of BIFR -AND how ?
3) How BIFR can take Suo motu action
CAclubindia
