Mr A is a partner in a CA firm ABC & Co where Mr B and Mr C are also partners. Mr X is a relative of Mr A. Mr X is indebted to PQR Ltd. for Rs. 20 lakhs. Due to this, Mr A and ABC & Co will be disqualified to be the auditors of PQR Ltd. But can Mr B or Mr C in their own individual capacity be appointed as auditors of PQR Ltd under the Companies Act 2013? Suppose Mr B was also a partner in CA firm BB & Co. Can BB & Co. be appointed as auditors in PQR Ltd?
My exam is in nov. 2016
Can I use "tribunal " word instead of "CLB"
why in case of OPC, financial statement does not include cash flow statement?
Before i ask doubt i will lay down some ground work :
As per sec 139(1), Auditor SHALL be appointed for term of 5 years and ratified every year.
Ratification is not Appointment. It is just confirming that appointment still continues...
Also, for Appointing Auditor Ordinary Resolution is necessary.
Doubt and confusion in sec 139(9), & 139(10) :
1. Is Retiring Audior the one who's term has completed ? And if so, in case of Individual Auditor he should not be able to get reappointed since he falls under sec 139(2) - Term of Auditor. But when one reads sec 139(10) it becomes absurd to understand that when company dont appoint or re-appoint, existing auditor will continues to be auditor of company.
2. Let's assume that provisions are not for Individual auditor and applicable only for Firms, whether such continuation tantamounts to Appointment ?
3. Also, it very clear why there is requirement of special resolution if company wants to appoint auditor other than retiring auditor u/s 140(4). But requirement of spcl resolution u/s 139(9) to not to re-appoint the same auditor makes no sense. Company can very well refer 139(1) to appoint without doing anything.
please help me understand these provisions !!
which docs and forms are required to check under FEMA,1999 while doing secretarial audit. plz provide me the same. thanks in advance..
Share holders of One of a client company had disputes amongst themselves. Now one of the shareholder is demanding money back from the company bank account. Is it possible to give a cheque from the company account.? If not what is the way out for the same? Please help me with the same.
Can we file 23B for more than 1F.y. in form 23b in 'Period of accounts for which appointed" can we choose more than 1 F.y. and from when 23b is come in MCA
i need ask that i just made a company from dormant to active. for which we have to file the return for pending years. on filling the form 23AC it is showing the error message as “ ENTERED MEMEBERSHIP NUMBER OF THE REPRESENTATIVE AUDITOR XXXXXX IS NOT VALID’".
Can someone help me in this matter
What are the documents to be seen while purchasing debentures of any private company?
Hy friends I want to know about whether a private limited company can issue debentures??? If Yes than what is the limit to issue debentures without permission of sebi???