Securities And Exchange Board Of India - Subsection
Section 24(2) in Securities and Exchange Board of India (Issue and Listing of Municipal Debt Securities) Regulations, 2015
(2)In case of the issuer being a municipality, the accounts of the issuer shall be audited by the persons appointed by the municipal corporations, as permissible under its constitution document:Provided that in case the issuer is a body corporate to which the Companies Act, 2013 applies, the accounts of the issuer shall be audited by an auditor, in terms of section 139 of the Companies Act, 2013 and the Rules made thereunder.]
