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[Cites 0, Cited by 1] [Section 245] [Entire Act]

Union of India - Subsection

Section 245(2) in The Companies Act, 2013

(2)Where the members or depositors seek any damages or compensation or demand any other suitable action from or against an audit firm, the liability shall be of the firm as well as of each partner who was involved in making any improper or misleading statement of particulars in the audit report or who acted in a fraudulent, unlawful or wrongful manner.