Auditors Compulsory Rotation after Consecutive Term of Five-Ten Years - Section 139(2)
Rule 5 of Companies (Audit and Auditors) Rules, 2014.
The private companies falling under following categories shall be included in 139(2):
(a) all unlisted public companies having paid up share capital of rupees ten crore or more;
(b) all private limited companies having paid up share capital of rupees twenty crore or
(c) all companies having paid up share capital of below threshold limit mentioned in
(a) and (b) above, but having public borrowings from financial institutions, banks or public deposits of rupees fifty crores or more.