01 June 2017
Yes. Subject to the fulfillment of following conditions 1. Relative is not holding any security of or interest in company; or its subsidiary; or its holding company; or associate company; or subs. of such holding co. Relative of an auditor may hold securities in the Co. of face value < Rs. 1 Lakh. 2. Relative has not indebted to company; or its subsidiary; or its holding company; or associate company; or subs. of such holding co.. for more than Rs. 5 Lakhs 3. Relative has not given a guarantee or security for indebtedness of any third person to company; or its subsidiary; or . its holding company; or associate company; or subs. of such holding co in excess of Rs. 1 Lakh
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