Kesar Limited, an unlisted company furnishes the following data: (a) Paid-up share capital as on 31st March 202449 Crore. (b) Turnover for the year…

(a) According to the Companies (Accounts) Rules, 2014, every unlisted public company having: (A) paid up share capital of 50crore rupees or more during the preceding financial year; or (B) turnover of 200crore rupees or more during the preceding financial year; or (C) outstanding loans or borrowings from banks or public financial institutions exceeding 100crore rupees or more at any point of time during the preceding financial year; or (D) outstanding deposits of 25crore rupees or more at any point of time during the preceding financial year; shall be required to appoint an internal auditor which may be either an individual or a partnership firm or a body corporate. In the given question, Kesar Limited has outstanding loan from bank exceeding 100 crore rupees i.e.,102 crore on 3rd March 2024 (i.e. during the preceding financial year 2023-24). Hence, it is required to appoint Internal Auditor during the year 2024-25.