Which of the following companies is NOT required to appoint an internal auditor under Section 138 of the Companies Act, 2013?a)A listed company.b)An unlisted public company with a paid-up share capital of Rs 40 crore.c)A private company with a turnover of Rs 250 crore.d)An unlisted public company with outstanding deposits of Rs 30 crore.Correct answer is option 'B'. Can you explain this answer?

Question

Answer

Section 138 of the Companies Act, 2013 requires certain classes of companies to appoint an internal auditor. These classes include listed companies, unlisted public companies meeting specific criteria, and private companies meeting specific criteria. In this case, the unlisted public company with a paid-up share capital of Rs 40 crore is not required to appoint an internal auditor as it does not meet the criteria outlined in the section.

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