Audit Quiry

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 November 2010 Xyz & Assocites , a chartered accountants firm has been appointed as
an statutory auditor of Abc ltd. at the Annual General Meeting for the
financial year 2009_10 which is held on 30/06/2010. The partner of the
ca's firm "X" was indebted to the company of Rs. 10000/- at the
begining of the year i.e. 1/4/2010. By hearing of notice of the
appointment "X" pays off his all liabilities as on 15/06/2010. Examine
whether the appointment of xyz & associates is valid.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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05 November 2010 Valid. On the date of appointment,as per section 226(3)(d), Mr. X is not indebted to the company.

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