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Jaspreet Singh SinghJaspreet Singh asked 9 months ago • 
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Jaspreet Singh SinghJaspreet Singh asked 9 months ago • 
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Jaspreet Singh SinghJaspreet Singh asked 2 years ago • 
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Jaspreet Singh SinghJaspreet Singh asked 2 years ago • 
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Jaspreet Singh SinghJaspreet Singh asked 2 years ago • 
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Jaspreet Singh SinghJaspreet Singh asked 3 years ago • 
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Jaspreet Singh SinghJaspreet Singh asked 3 years ago • 
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Jaspreet Singh SinghJaspreet Singh asked 3 years ago • 
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Section 141 : 1. Section 141 states that any person whose subsidiary or associate is engaged as on date of appointment in services as per section 144 then such person shall be disqualified. Suppose, Mr. A was appointed on 30/4 and did not provide the service but during his tenure of 5 years, suppose he starts providing prohibited service to the company, will it amount to disqualification? Will the answer be different if he starts providing such services to any of 5 companies during his appointment? 2. A company A ltd. has a holding company H Ltd. which also has another subsidiary S Ltd. Mr. P( CA by profession) is a director of A Ltd. Now as per section 141, a person whose relative is a director or who is in the employment of the company as KMP or director of the company shall not be eligible for appointment. Now as per the section, Mr P is disqualified to be appointed as auditor of A Ltd. & as per ICAI notification, also disqualified to become auditor of H Ltd. as well, but can he become auditor of S ltd? 3. Section 141 also states that a person should not be hold any security in any of the 5 co.’s but the relative can hold securities of the company in which the auditor is to be appointed with face value upto 10000. Suppose currently, the face value per reliance share is rupees 10 but market value is 900 so technically, a relative can hold securities of reliance having value 900000. Is it correct? Further, kindly confirm, such 100000 limit is per relative and that too for the company in which the auditor is to be appointed. Suppose if the relative is holding securities in the subsidiary co. of reliance then there shall be no disqualification irrespective of the limit of face value.?
Jaspreet Singh SinghJaspreet Singh asked 4 years ago • 
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