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....
CAclubindia
