Rule 8 - Revocation of exemption. - Companies (Branch Audit Exemption) Rules, 1961

Revocation of exemption. 08. The Central Government may, after giving the company reasonable opportunity to make its objections, revoke an exemption granted under these Rules, if (a) there has been a contravention of any of the terms and conditions subject to which the exemption was granted; (b) there has been a material alteration in the circumstances relating to the scrutiny, check or audit of the accounts of the branch office on the basis of which the exemption was granted; and (c) for any other reason, the Central Government is satisfied that the exemption is no longer necessary or justified.