Appointment of - Whether branch audits of Indian companies and audit of Indian business accounts of foreign companies are to be included while calculating specified number in terms of Explanation I to sub‑sections (1B) and (1C)

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..... 8209; 1975. Subject:- Appointment of - Whether branch audits of Indian companies and audit of Indian business accounts of foreign companies are to be included while calculating specified number in terms of Explanation I to sub ‑ sections (1B) and (1C) A question has been raised as to whether the auditors of the branches of the Indian companies and the audits of the Indian busines .....

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..... tor. The words any part of which appearing in Explanation II cannot have any reference to branch audit which as noted above does not fit into the context of section 224. The said words relate to the antecedent number and not companies insofar as they are of any material significance to the context. Hence, the branch audits are not to be included while calculating the specified number of 20 aud .....

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