Query on appointment of auditor


Nishant Saxena (Student )     08 December 2017

Nishant Saxena
Student  
 28 points

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Actually according to sec143 (3)(d) if on date on appointment auditor is indebted to company for an amount greater than Rs 1 Lakh, he cannot be appointed as auditor. What happens if he is indebted after his appointment? Will he still hold the office even after indebtedness once appointed? 

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Damisetty Saketh (student)     08 December 2017

Damisetty Saketh
student 
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He has to vacate office.

Jenil Shah   08 December 2017

Jenil Shah

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exactly....he has to vacate his office from that date.

phoenix (steve8)     02 January 2018

phoenix
steve8 
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He has to vacate his office from that date

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yify (stertrytruytuytu)     22 January 2018

yify
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Rahul Prajapati (Intern)     28 March 2018

Rahul Prajapati
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It is under section 141(3)d

Eligibility, qualifications and disqualifications of auditors

Where a person appointed as an auditor of a company becomes indebted  to company of the after his appointment, he shall vacate his office as such auditor and such vacation shall be deemed to be a casual vacancy in the office of the auditor.

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charlie (CS)     12 April 2018

charlie
CS 
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results in casual vacancy

.

 

John Smith (engineer)     15 May 2018

John Smith
engineer 
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good one 

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Pratik Srivastav   08 August 2018

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