Auditor holding Preference Share in a Company

Thank you all for your fast and accurate response.

I've one more Query related to appointment of an Auditor. 

Q. If a CA having Certificate of practice(COP) is holding preference share(s) of a company. Can he be appointed as an Auditor of that company?

Seeking your reply. 

Himanshu.

Replies (1)

a person holding any security of the company . the expression 'security' here means any instrument , which carries voting rights.

preference shares do not have voting rights.

so the CA can be appointed.

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