EQUITY SHARES
This query is : Resolved
02 July 2010
EXCEPTIONALLY EQUITY SHAREHOLDERS DONT HV VOTING RIGHTS SO IF A CA WITH COP HOLDS A EQUITY SHARE OF A COMPANY HVING NO VOTING RIGHTS CAN BE THE AUDITOR OF THAT COMPANY? REASON?
02 July 2010
As per Section 226 of Company Act, 1956 a person having the securities of a company can not be appointed as an auditor of that company. Here securities means security carrying voting rights.
02 July 2010
ok but what abt preference shareholders isnt it a security as generally they dnt hv voting right.
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