Can someone please resolve my query regarging appointment of auditor
"If Mr. X is a Chartered Accountant within the meaning of ICAI Act,1949 is Indebted to the company to the extent of Rs.700/- AND given a third party guarentee to the extent of Rs.500/- AND at the same time holding debentures of company worth Rs.1000/- is he qualified to be appointed as an auditor of that particular company as sec 226 of Companies Act,1956?"
I think he is disqualified.
Hi Sri Teja,
I am very happy friend that you reminded me the study days. I am reproducing section 226 as below for your kind reference.
S.226(3) (d)
(3) None of the following persons shall be qualified for appointment as auditor of a company -
ADY & CO.
New Delhi
Graduate (Any)
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HKC | Chartered Accountants & Business Advisors
Ludhiana
CA
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CA Suraj Garg & Associates
New Delhi
CA Final
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CCI
Pro
CAclubindia
