The aggregate shareholding of nationalized Banks, LIC and IDBI exceeded 55% of the paid up share capital of the company.
LIC and IDBI are the corporations owned by the Central Government, which hold 55% of the paid up share capital of the company. Therefore, the appointment of auditors will be made by the Comptroller and Auditor General of India and the remuneration of auditors shall be determined in the general meeting.w will the auditors of the company be appointed.
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