QuestionsCategory: Co. Audit - IIndebtedness of 500000is to be checked cumulative and combined for All companies. Case 1 Auditor indebted to company for 200000 his relative indebted to Company for 400000. Will Auditor be disqualifird. Case2. Auditor indebted to company for 4lac and indebted to its holding for 2lac will Auditor be disqualified case 3 Auditor indebb to company of 200000 and relative indebted to holding 400000 will Auditor be disqualified
HimalayaHimalaya asked 6 years ago
1 Answers
RaviRavi Staff answered 6 years ago

disqualified in all 3 cases
its cumulative limit for all people inclusive and all companies taken together