auditor disqualification
This query is : Resolved
16 February 2010
auditor have indebted to the sBH is qualified for the appointment of the auditor of the SBI
DEEPIKA GOEL
(Expert)
16 February 2010
As per the section 226(3)(d) of the companies act, 1956, a person is not qualified to be appointed as an auditor of the company if the person is indebted to the company for an amount exceeding Rs. 1000,or who has given any guarantee or provided any security in connection with the indebtedness of any third person to the company for an amount exceeding one thousand rupees.
It can be concluded that person is not qualified to be appointed as an auditor of the SBI.
It can be concluded that person is not qualified to be appointed as an auditor of the SBI.
CA.ViVeK M ACA
(Expert)
16 February 2010
If a person dis qualified as auditor of parent or subsidiary company, then the same disquallification will be persist on the other company...
If a person disqualifed to be appointed as an auditor of associate company, that dis qualification will persist...
conclusion
If a person disqualified in SBH....He cannot be appointed as an auditor of SBI alos
If a person disqualifed to be appointed as an auditor of associate company, that dis qualification will persist...
conclusion
If a person disqualified in SBH....He cannot be appointed as an auditor of SBI alos
Ankur Garg
(Expert)
17 February 2010
Also refer section 226(5) of the Companies Act, 1956.
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