Auditors - Appointment of ‑ Specified number of audits under Explanation I to sub‑sections (1B) and (1C) ‑ Guarantee companies whether to be counted in reckoning the said specified number - Companies Law - No. 8/12(224)/74‑CL‑V,

Letter : No. 8/12(224)/74 CL V, dated 28 9 1974. Subject:- Auditors - Appointment of Specified number of audits under Explanation I to sub sections (1B) and (1C) Guarantee companies whether to be counted in reckoning the said specified number A point has been raised as to whether companies limited by guarantee are to be included in reckoning specified number of companies within the meaning of Explanation I to sub sections (1B) and (1C). This has been examined and the Department is of the view that such companies as have no share capital are to be excluded from the reckoning.