Pls help..Very urgent ....whether disqualification u/s 226 ?
This query is : Resolved
31 December 2010
Sir,
I will describe a case here,
Suppose a Chartered Accountant in Practice act as a guarantee for an education loan for his son in a Bank(Holding Compamy). Now my doubt is whether he can accept an offer for Statutory Audit of bank which is the Subsidiary of the above mentioned Holding Co.Whether his acceptance pave way for any diaqualification under sec: 226 of the Companies Act,1956?
Pls provide me with supportive ICAI guidelines or any ciculars or Notifications in the Companies Act or under Banking Regulations Act....
Thanks
I will describe a case here,
Suppose a Chartered Accountant in Practice act as a guarantee for an education loan for his son in a Bank(Holding Compamy). Now my doubt is whether he can accept an offer for Statutory Audit of bank which is the Subsidiary of the above mentioned Holding Co.Whether his acceptance pave way for any diaqualification under sec: 226 of the Companies Act,1956?
Pls provide me with supportive ICAI guidelines or any ciculars or Notifications in the Companies Act or under Banking Regulations Act....
Thanks
31 December 2010
As he is disqualified in holding company..he is also disqualified in its subsidiary company..
31 December 2010
Thank u sir...
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- ADVANCE PAYMENT OF ADVOCATE
- UNWANTED CREDIT BALANCE OF GST AS PER BOOKS
- CREDIT NOTES WITHOUT GST
- DIN reactivation
- REGARDING ANNUAL RETURNS FILLINGS OF A COMPANY INCORPORATED ON 28.03.2025
- TDS Return Q1 FY 2026-27
- Condonation . E-Verification of last year return .
- Eway bill generation from place other than registeted
- GST rate and HSN code for sale of racing horses
- Depreciation of fixed assets- coop housing society in mumbai
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
