JK Logistics Ltd., is one of the leading companies in the logistics industry. Five years ago, 75% equity shares of JK Logistics Ltd., were acquired…

JK Logistics Ltd., is one of the leading companies in the logistics industry. Five years ago, 75% equity shares of JK Logistics Ltd., were acquired by RK Logistics Ltd. RK Logistics Ltd., has a presence in Haryana, Punjab and Rajasthan and is mainly into transporting of agricultural produce. As timely transportation of agricultural produce is of strategically importance, the state governments of the above three states holds stake in RK Logistics Ltd. The State Government's current stakes are as follows: State of Haryana: 19%State of Rajasthan: 20%State of Punjab: 18% On 29th September, 2023, just after the conclusion of the AGM, Mr. Rohan, the auditor of JK Logistics Ltd., suffered a stroke and in order to reduce work load, resigned as the auditor of the company but unfortunately, he forgot to inform the concerned authorities about his resignation. It is important to note that auditor's (i.e. Mr. Rohan) annual remuneration was 5 lakhs. The company on the other hand, appointed AG & Associates as their auditors after completing all the statutory formalities. Mr. Avinash, who is one of the partners of the audit firm, had borrowed a sum of 3.5 lakhs from RK Logistics Ltd. and has dues of 1.49 lakhs towards use of logistic services of the company. Both the sum borrowed and the cost of services taken are not yet paid by Mr. Avinash. Mr. Avinash is not signing the financials of JK Logistics Ltd. Based on the facts given in above case scenario and by applying the relevant provisions of the Companies Act, 2013 and Rules therein, choose the correct answer of the following questions: (Q. No. 1 to Q. No. 3)