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Appointment of director
A person shall also not be qualified for appointment as auditor of a company if he is, by virtue of sub- section (3), disqualified for appointment as auditor of any other body corporate which is that company' s subsidiary or holding company or a subsidiary of that company' s holding company, or would be so disqualified if the body corporate were a company
In my simple term = If person is disqualified as a auditor in holding/ subsidiary company than he is also disqualified as a auditor for holding/subsidiary company also..!
Got it ?
sec. 226 of companies act 1956
Disqualification attracted to the auditor, he should resign as an auditor.
Dear Megha, He can not be auditor for holding & director for subsidiary.
For Sec. 226, holding company & Subsidiary company considered as a one company. So He can not be auditor & director of same company..
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