Cag auditing

binduhari (Querist) 11 October 2011 This query is : Resolved
The Govt.holding for a part of the year becomes more than 50% as private equity partners have not subscribed for the rights issue offered to them.

Whether CAG auditng is required?

Bindu

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Sailesh Kumar Shah (Expert) 11 October 2011
If that company come under purview of section 617 i.e. 51% holding. Appointment of auditor by CAG u/s619(2).

Guest (Expert) 11 October 2011
Of course, CAG audit becomes necessary where in any part of the year the paid-up share capital of the company used to be 51% or above.

prabhakar singh (Expert) 11 October 2011
Whether CAG auditng is required?

YES IS THE ANSWER.

Anirudh (Expert) 11 October 2011
Sorry to point out. I don't think that there is any value addition at all by other Experts to the original answer rendered by Mr. Shailesh.

Guest (Expert) 11 October 2011
Anirudh ji,

Sorry to point out, with your remarks also there is no value addition to any of the answer by you also. At least you could have made some value addition. Mere criticism of the contributors cannot make value addition.

prabhakar singh (Expert) 11 October 2011
TRUE WHAT YOU SAY ,AND ANSWERS GOES LIKE AS YOU FOUND BECAUSE NO BODY CAN ANSWER 2+2=5,AND SOME TIME IN THE SPHERE OF LAW ALSO IT HAPPENS SO.

WE HAD TWO OPTIONS EITHER TO CHOOSE NOT TO ATTEND THE QUERY AT ALL IN SUCH A SITUATION OR TO CHOOSE TO ANSWER.BUT THAT MIGHT HAVE LEFT AUTHOR IN THE SAME DILEMMA IN WHICH HE VISITED HERE DESPITE KNOWING THE ANSWER HIM SELF; OR TO MULTIPLICATE THE VIEW ALREADY CORRECTLY EXPRESSED SO THAT HE MAY WASH HIS DOUBT.

IF THAT HAS NOT HAPPEN IN YOUR OPINION THEN I SHALL CARE IN FUTURE TO KEEP MY SELF AWAY FROM SUCH AN EXERCISE ESPECIALLY IF ANY QUERY IS POSTED BY YOU.

I DO NOT KNOW WHO RESTRAINED YOU FROM ADDING SOME VALUE TO THE QUERY,NEEDLESS TO SAY ANY THING ABOUT NEGATIVE CREATURES.

I HOPE YOUR AGITATION NOW SHALL GET A DEEP REST.

Sankaranarayanan (Expert) 11 October 2011
as for as your question even not clear , i assumed it and audit is certainly must and necessary

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