In a caro report of a pvt ltd company, auditor commented as such,
Statutory dues has not been paid.
Defaulted in repayment of loan taken from bank
Company has accumlated loss. Which is more then 50% of its net worth.
Whether this a qualified repoart, if yes so question is whether directors should rply on these issues in director report u/s 217. plz rply its urgent.
Yes it is a qualified report and the directors has to give explanaitons / justifications accordingly in the Directors Report and form 23AC and 23ACA as well.
thank you so much ankur.
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