Option 1 states that the Companies Bill, as amended in 2012, requires companies to give preference to local areas where they operate when spending the amount earmarked for corporate social responsibility. This means that companies are encouraged to invest in the development and welfare of the communities in which they operate.
Option 2 states that the Companies Bill includes punishment for falsely inducing a person to enter into an agreement with a bank or financial institution in order to obtain credit facilities. This implies that the Bill aims to deter fraudulent activities and protect individuals from being misled into agreements for obtaining credit.
Option 3 provides a statement that there is no limit on the number of companies in which a person may be appointed as an auditor. This means that a person can be appointed as an auditor for multiple companies simultaneously, and there is no restriction imposed on the number of appointments.
Option 4 states that `Independent Directors` are excluded when computing one-third of retiring directors. This means that when calculating the required number of retiring directors, the independent directors are not included in the calculation.
Therefore, option 3, where there is no limit on the number of companies in which a person may be appointed as an auditor, is the correct answer as it does not align with the salient features of the Companies Bill as