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Please clarify
What is the indebted value for disqualification of an auditor under sec 141(3) of Companies Act 2013? 1000 or 500000?
Replies (3)
For the purpose of sub-clause (ii) of clause (d) of sub-section (3) of section 141, a person who or whose relative or partner is indebted to the company or its subsidiary or its holding or associate company or a subsidiary of such holding company, in excess of rupees five lakh shall not be eligible for appointment.
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- Rule 10(2) of the Companies (Audit and Auditors) Rules, 2014.
Thank you for your reply
totally agree with Deepak
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