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Section 177 constitution of audit committee

Section 177 mein borrowing ke liye Jo limit prescribed ki gai Hain wo 50 cr or more Hain ya only exceeding 50 cr Because in module it is showing exceeding 50 cr or more. What the means of this sentence?


Suresh Kara

Suresh Kara

CA Inter

1K+

12-Jul-20 22:32

39

Answers (5)

Best Answer

But sir module mein bhi do tarike se Diya Hain > 50 cr And text mein exceeding 50 cr or more So it is confusing and Mene jahase class kiyatha Nov 19 mein waha ke sir ne bhi sirf > 50 cr hi bola tha isliye

It is exceeding Rs.50 crore i.e. more than Rs.50 crores. In module the necessary correction is made. Paid up capital and turnover are figures with greater than or equal to but outstanding loans, deb n deposits is more than Rs.50 crores


sudha reddy

sudha reddy

Moderator

13-Jul-20 15:45

The rule states (i) paid up share capital of ten crore rupees or more; or (ii) turnover of one hundred crore rupees or more; or (iii)outstanding loans, debentures and deposits (in aggregate), exceeding fifty crore rupees So it is Rs.50 Cr. or more. The module has been appropriately corrected. Thank you for pointing out.


sudha reddy

sudha reddy

Moderator

12-Jul-20 23:33

But sir module mein bhi do tarike se Diya Hain > 50 cr And text mein exceeding 50 cr or more So it is confusing and Mene jahase class kiyatha Nov 19 mein waha ke sir ne bhi sirf > 50 cr hi bola tha isliye

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Suresh Kara

Suresh Kara

CA Inter

1K+

13-Jul-20 15:26

Ok thank you for solving this confusion.


Suresh Kara

Suresh Kara

CA Inter

1K+

13-Jul-20 16:27

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