alleryStart learning →A bank wants to reappoint its statutory auditor. Whose previous approval does s.30(1A) require?
AThe SEBI board
BThe Reserve Bank
CThe company registrar
DThe stock exchange
Answer & Solution
Correct answer: B. The Reserve Bank
Section 30(1A) makes the Reserve Bank's previous approval compulsory before a banking company appoints, re-appoints or removes an auditor.
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