Indebtedness 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
ANSWERED Ravi answered October 15, 2018     Category:
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 Relative can hold security of face value 100000. And 60days corrective action is given to him.of 60days But if on date of appt Of Auditor Relative hold more than 100000. Will Auditor be apptd immediately or after corrective action of relative is undertaken. And if once Auditor is apptd can relative acquire shares again and take corrective action. Or will he never be able to acquire shares above 100000face value after appt of Auditor upto comeyion of Tenure
ANSWERED Ravi answered October 15, 2018     Category:
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 Sir u told us that whenever at agm we do not want to re-appoint existing auditor and rotation is not applicable, we will have to give a special notice. My question is that will special notice be required when a firm’s appointment ratification is being rejected at its 2nd, 3rd, 4th years ? And what about in the 5th year in case of this firm ? Further, is removal inevitably applied with this concept of special notice requirement in each of the years i mentioned ? I am a bit doubtful about combination of the concepts of removal and re-appointing an auditor other than retiring auditor. Is removal a concept to be applied at all times EXCEPT AT AN AGM ?
ANSWERED Ravi answered October 13, 2018     Category:
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