Please clarify
Haritha (nthng) (45 Points)
18 February 2015
What is the indebted value for disqualification of an auditor under sec 141(3) of Companies Act 2013? 1000 or 500000?
Deepak Gupta
(CA Student)
(15922 Points)
Replied 18 February 2015
For the purpose of sub-clause (ii) of clause (d) of sub-section (3) of section 141, a person who or whose relative or partner is indebted to the company or its subsidiary or its holding or associate company or a subsidiary of such holding company, in excess of rupees five lakh shall not be eligible for appointment.
.
- Rule 10(2) of the Companies (Audit and Auditors) Rules, 2014.
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