Kindly find herewith our newsflash on the amendment to the Rule 5 of the Companies (Audit and Auditors) Rules, 2014 which specifies the companies to which provisions of section 139(2) of the Companies Act, 2013 (Rotation of Auditors) apply. The amendment has increased the threshold for the applicability of rotation of auditors based on the paid up share capital of private company from Rs. 20 crore to Rs. 50 crore.
We trust you will find the same useful.