TMI BlogQualifications and disqualifications of auditors.X X X X Extracts X X X X X X X X Extracts X X X X ..... rovided that a firm whereof all the partners practising in India are qualified for appointment as aforesaid may be appointed by its firm name to be auditor of a company, in which case any partner so practising may act in the name of the firm. (2)(a) Notwithstanding anything contained in sub-section (1), but subject to the provisions of any rules made under clause (b), the holder of a certi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ore the 1st November, 1956, were comprised in Part B States] for the purposes of clause (a), and prescribing conditions and restrictions for such grant, renewal, suspension or cancellation. (3) None of the following persons shall be qualified for appointment as auditor of a company __ (a) a body corporate; (b) an officer or employee of the company; (c) a person who is a pa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or appointment as auditor of a company if he is, by virtue of sub-section (3), disqualified for appointment as auditor of any other body corporate which is that company's subsidiary or holding company or a subsidiary of that company's holding company, or would be so disqualified if the body corporate were a company. (5) If an auditor becomes subject, after his appointment, to any of the disquali ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sures of the Company; (f) a person who is a director, or the holder of shares exceeding five per cent in nominal value of the subscribed capital, of any body corporate which is the managing agent or the secretaries and treasures, of the company: Provided that any shares held by such person as nominee or trustee for any third person and in which the holder has no beneficial interest shall b ..... X X X X Extracts X X X X X X X X Extracts X X X X
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