12 February 2011
Hi...Friends, i Have Small Doubt... Mr.X,Practiced Chartered Accountant & relative of a Director Mr.Y of a company Z. Can Mr.X act as Statutory Auditor of Z company according to Companies Act 1956???
12 February 2011
Yes, even though Mr X is the relative of Mr Y , his appointment as the statutory auditor is Valid. Refer section 226- Qualifications and disqualifications of auditor.
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