Pls help..Very urgent ....whether disqualification u/s 226 ?

This query is : Resolved

Dhanya Sreedhar (Querist)
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31 December 2010 Sir,

I will describe a case here,

Suppose a Chartered Accountant in Practice act as a guarantee for an education loan for his son in a Bank(Holding Compamy). Now my doubt is whether he can accept an offer for Statutory Audit of bank which is the Subsidiary of the above mentioned Holding Co.Whether his acceptance pave way for any diaqualification under sec: 226 of the Companies Act,1956?

Pls provide me with supportive ICAI guidelines or any ciculars or Notifications in the Companies Act or under Banking Regulations Act....

Thanks

CA Kalpesh Gokani

CA Kalpesh Gokani (Expert)
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31 December 2010 As he is disqualified in holding company..he is also disqualified in its subsidiary company..

Dhanya Sreedhar

Dhanya Sreedhar (Querist)
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31 December 2010 Thank u sir...

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Pls help..Very urgent ....whether disqualification u/s 226 ?

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