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I have one query in company law: Under section 139(2) of the companies act 2013 An individual auditor who has completed his terms of 5 years shall not be eligible for reappoint as auditor in "Same" Company for 5 years from the completion of his term. So here auditor of same company means only particular that company or Holding/Subsidiary/Associate company ?
Replies (9)
It means An individual shall not be eligible for reappointment as auditor in same company.
Here Same company means " Holding/ Subsidiary/Associate Company
Here Same company means " Holding/ Subsidiary/Associate Company
Thank you Jinendra Jain Sir...
Thank you Jinendra Jain Sir...
it is only for individual or firm or partner of audit firm ? plz clarify ...
it is applicable for both whether individual, firm or partner of audit firm
Thanks Sudhir Todkar My pleasure and whenever I m going wrong please guide/ rectify me👍
@ jinendra Jain I think it isn't the correct interpretation of wordings
Here we should understand the intention of the law maker, in such cases.
Intention is to maintain the indepency of the auditor. If any auditor Disqualified to become in its holding company he also Disqualify in its subsidiary company and associate company.
Intention is to maintain the indepency of the auditor. If any auditor Disqualified to become in its holding company he also Disqualify in its subsidiary company and associate company.
Here we should understand the intention of the law maker, in such cases.
Intention is to maintain the indepency of the auditor. If any auditor Disqualified to become in its holding company he also Disqualify in its subsidiary company and associate company.
Intention is to maintain the indepency of the auditor. If any auditor Disqualified to become in its holding company he also Disqualify in its subsidiary company and associate company.
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