Eligibility, qualifications and disqualifications of auditors.

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..... f partners practising in India are qualified for appointment as aforesaid may be appointed by its firm name to be auditor of a company. (2) Where a firm including a limited liability partnership is appointed as an auditor of a company, only the partners who are chartered accountants shall be authorised to act and sign on behalf of the firm. (3) The following persons shall .....

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..... xceeding one thousand rupees or such sum as may be prescribed; (ii) is indebted to the company, or its subsidiary, or its holding or associate company or a subsidiary of such holding company, in excess of such amount as may be prescribed; or (iii) has given a guarantee or provided any security in connection with the indebtedness of any third pers .....

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..... date of his appointment: Provided that the members of a company may, by ordinary resolution, specify the number of companies beyond which the auditor or audit firm of a company shall not become auditor; (h) a person who has been convicted by a court of an offence involving fraud and a period of ten years has not elapsed from the date of such convic .....

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