Section 141 of companies act 2013
This query is : Open
13 March 2015
"BC & Co." is an Audit Firm, having partners Mr.B, Mr.C & Mr.A who is a relative of Mr. C
Mr.A is holding securities of the company "MWF Ltd." having face value of Rs. 96000. Whether BC & Co. is authorised from being appointed as auditors.?
In this ques. Mr.A is a partner and relative. So, as per the limit of Rs. 1,00,000 for relative, Mr.C is not ineligible making the firm eligible, but taking Mr.A as partner the firm becomes ineligible.
Mr.A is holding securities of the company "MWF Ltd." having face value of Rs. 96000. Whether BC & Co. is authorised from being appointed as auditors.?
In this ques. Mr.A is a partner and relative. So, as per the limit of Rs. 1,00,000 for relative, Mr.C is not ineligible making the firm eligible, but taking Mr.A as partner the firm becomes ineligible.
15 March 2015
Yes as a partner holding securities makes the firm ineligible
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