Companies Act Section 378ZG — Duties of auditor under this Chapter

CHAPTER XXI

Commercial / Corporate

Summary

The auditor must report on these additional matters for a Producer Company, over and above what is already required under section 143 of the Act.

Under clause (a), the auditor must report the amount of debts owed to the company, along with details of any bad debts.

Under clause (b), the auditor must report on the verification of the company's cash balance and securities.

Under clause (c), the auditor must report the details of the company's assets and liabilities.

Under clause (d), the auditor must report all transactions that appear to go against the provisions of this Chapter.

Under clause (e), the auditor must report any loans given by the Producer Company to its directors.

Under clause (f), the auditor must report any donations or subscriptions given by the Producer Company.

Under clause (g), the auditor must report any other matter that the auditor considers necessary.

Official Text

Without prejudice to the provisions contained in section 143, the auditor shall report on the following additional matters relating to the Producer Company, namely:—

(a) the amount of debts due alongwith particulars of bad debts, if any;

(b) the verification of cash balance and securities;

(c) the details of assets and liabilities;

(d) all transactions which appear to be contrary to the provisions of this Chapter;

(e) the loans given by the Producer Company to the directors;

(f) the donations or subscriptions given by the Producer Company;

(g) any other matter as may be considered necessary by the auditor.