Disqualification of auditor

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RohitSoni (Querist)
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01 November 2016 Is a auditor disqualified to be appointed in a subsidiary if his relative is CEO in the holding company?

CS Peer mehboob

CS Peer mehboob (Expert)
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02 November 2016 As per Section 141(3)(d)(i), if a person who or his relative is holding any security or interest in the company or its holding or associate company or subsidiary company or subsidiary of such holding company, shall not be eligible for appointment as auditor of the company. Therefore if a person's relative is CEO of the holding company, that will be considered as such person is holding interest in the holding company therefore, shall not be eligible to be appointed as auditor in its subsidiary comapny.

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