Sec 185, 188, 20 AUDIT LIMIT WILL NOT APPLY TO PVT LTD CO:

Sec 185, 188, 20 AUDIT LIMIT WILL NOT APPLY TO PVT LTD CO: 

Achhe Din Ane wale Hai !!!!!!!!!!!! For PVT LTD COs

1) sec 185 Shall not apply to Private companies -

(a) which have borrowings from banks or financial institutions or any bodies corporate not more than twice of their paid up share capital or Rs. 50 crore, whichever is lower; and

(b) in whose share capital no other body corporate has invested any money”.

2) section 188 Shall not apply.

3) 

20 AUDIT LIMIT WILL NOT APPLY TO PVT LTD CO

4) Many other sec will not apply:see attachments