Appointment of an Auditor holding Preference share.
This query is : Resolved
10 July 2010
Q. If a CA having Certificate of practice(COP) is holding preference share(s) of a company. Can he be appointed as an Auditor of that company?
Seeking your reply.
Himanshu.
Seeking your reply.
Himanshu.
11 July 2010
as per section 226(3)(e) if auditor holds any security having voting power will be disqualified pref shares carry voting power in some cercumstances hence he is disqualified
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