Govt’s Company Law Amendment Bill Triggers Rumours: Committee Never Recommended Scrapping Statutory Audit for Firms up to ₹1 Crore Turnover

HomeCompany & PMLAGovt’s Company Law Amendment Bill Triggers Rumours: Committee Never Recommended Scrapping Statutory...

Govt’s Company Law Amendment Bill Triggers Rumours: Committee Never Recommended Scrapping Statutory Audit for Firms up to ₹1 Crore Turnover

Company & PMLA

Published on

27/11/2025

By Mariya Paliwala

Govt’s Company Law Amendment Bill Triggers Rumours: Committee Never Recommended Scrapping Statutory Audit for Firms up to ₹1 Crore Turnover

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Widespread social media chatter claiming that statutory audits may be scrapped for companies with turnover up to ₹1 crore has caused confusion among professionals, but a closer examination reveals that no such proposal exists in the Company Law Committee’s recommendations. The discussion gained traction after “The Corporate Laws (Amendment) Bill, 2025” was listed for the…

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Mariya Paliwala https://www.jurishour.in/

Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

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Company Law Amendment Bill

Govt’s Company Law Amendment Bill Triggers Rumours: Committee Never Recommended Scrapping Statutory Audit for Firms up to ₹1 Crore Turnover

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