Disqualification u/s 226

This query is : Resolved

Shrinaath Paravasthu (Querist)
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06 May 2010 A chartered accountant indebted to a company say in may Rs 2500 , then he repays the sum in september 5 th and gets appointed as auditor in 10 th september as stat auditor for YE 31.3.09
The fact that period of audit is from 1.4.08-31.3.09 and is indebted during the FY counts for disqualification
Also Term of auditor is from one AGM to the next . But audit is not conducted only from date of appointment or does it end after Fy .

Pl clarify whether auditor is disqualified
also tell me whether an auditor can be appoined retrospectively for the year begining

CMA RV Padmakumar.A

CMA RV Padmakumar.A (Expert)
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06 May 2010 https://www.caclubindia.com/experts/qualification-or-disqualification-of-an-auditor-384815.asp

CMA RV Padmakumar.A

CMA RV Padmakumar.A (Expert)
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06 May 2010 when he appointed as the auditor he should not be in indebtedness to company for more than Rs.1000/-

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