Section 226 (1) read as"226. Qualifications and disqualifications of auditors.
(1) A person shall not be qualified for appointment as auditor of a company unless he is a chartered accountant within the meaning of the Chartered Accountants Act, 1949 (48 of 1949 ):

Provided that a firm whereof all the partners practising in India are qualified for appointment as aforesaid may be appointed by its firm name to be auditor of a company, in which case any partner so practising may act in the name of the firm."

MY QUERY IS WHETHER THIS SECTION PROHIBITS FROM APPOINTING A FIRM OF SOLE PROPRIETOR CHARTERED ACCOUNTANT IN THE NAME OF FIRM? SAY CA XYZ IS PROPRIETOR OF XYZ & CO. WHETHER A COMPANY CAN APPOINT IT BY STATING FIRM NAME?

Hello..........
can anaybody pls tell me what are the consequences of non payment of stamp duty on issue of share certificate by closely held company? How to avoid that?Ours is closely held company and non profit making company

Respected Experts,

Can a unlisted company be incorporated with a face of value of shares less than one rupee..
and secondly can we alter the face value to less than one rupee for already incorporated as unlisted company.. please provide section numbers or case laws as applicable

can a listed co. issue sweat eq. shares to its promoters???

What are the steps to be taken by an HUF firm, wants to change its constitution into private limited company.
Which is the best possible way and what are the tax implications.

Dear All

Please note that while making the calculation under section 349 the most of teh deductions to be made from the net profits like interest on mortgages excuted on the company, etc are already been deducted from the gross profits while arising at the said net profit of the company. SO what is the logic behind deducting them again. Kindly help.

I am going to incorporate a company, for which i have already applied for DIN. The business which the promoters intended to do is the retail store of vegetables (which are to be sold at a discount as compared to mkt price)and provision store (free home delivery service will be given along with discount). can you please frame the main objects to be written in MOA or suggest me the company name which is exactly doing business like this one.
please i need it urgently.

1. Is it possible for managing Director of a company who is holding 50% share of a pvt ltd to get loans from bank without the knowledge or agreement of another partner who is also 50% share holder but not an active partner ?

2. How to stop the managing director from getting more loans from another banks which make company's liability increasing and can lead to bankruptcy ?

Pls let me know, what are the penal provisions if the Share Transfer Form does not have the Government of India & Date stamp affixed on it...

will d transfer on such share transfer form will be valid???

Can any one tell me difference between Private placement and preferntial allotment??????????????