Okk okkk samjh aa gya meri bhaiya log...:)
thanks for saying ki aap log hain na
its like shah rukh khan saying MAIN HU NAA
hehehehe
jus kidding thanks a ton......:)
Humble request to all cs professionals
Page no : 4
priyanshu saxena
(MBL LL.B.(Hons.) CS (Professional) with 4 yrs exp as Law editor in Thakur Publishers Pvt. Ltd.)
(2653 Points)
Replied 02 April 2012
Ajay Mishra
(Company Secretary)
(74337 Points)
Replied 02 April 2012
Hi
Maine ye nahi bola "MAI HU NA".....I am said "HUM HAI NA" means ....AG and AM...........SRK se kuch yad aa gaya....?
Nagam saisameer
(CA FINAL )
(170 Points)
Replied 02 April 2012
Sir's I am happy and i too participate and learn.
Shristi Bawari
(CS PROFESSIONAL & Trainee at GE Shipping)
(128 Points)
Replied 04 April 2012
Hi Priyanshu, I am facing the same problem of not getting adequate time to study coz of work. You have taken up a very good initiative. Please let me know wen is it possible for everyone to be online.
priyanshu saxena
(MBL LL.B.(Hons.) CS (Professional) with 4 yrs exp as Law editor in Thakur Publishers Pvt. Ltd.)
(2653 Points)
Replied 05 April 2012
Hello everyone
please let me know if a director of a company can be appointed as its auditor if yes what is the resolution?
Ajay Mishra
(Company Secretary)
(74337 Points)
Replied 05 April 2012
Hi
Certain category of persons not qualified for appointment as auditor
Section 226(3) states that none of the following persons shall be qualified for appointment as auditor of
a company:—
(a) a body corporate;
(b) an officer or employee of the company;
(c) a person who is a partner, or who is in the employment, of an officer or employee of the company;
(d) a person who is indebted to the company for an amount exceeding one thousand rupees, or who
has given any guarantee or provided any security in connection with the indebtedness of any third
person to the company for an amount exceeding one thousand rupees;
(e) a person holding any security of that company after a period of one year from the date of
commencement of the Companies (Amendment) Act, 2000 i.e. 13th December, 2000;
(f) For the purposes of section 226, "security" means an instrument, which carries voting rights;
(g) a person if he is, by virtue of section 226(3), disqualified for appointment as auditor of any other
body corporate which is that company's subsidiary or holding company or subsidiary of that
company's holding company. [Section 226(4)]
Appointment of a relative of a director as an auditor should not be made
In the legal sense a relative of a director of a company is not disqualified for appointment as an auditor
of the company. However, special resolution under section 314 shall be passed if the remuneration of
auditor exceeds the limits specified in section 314.
However, the council of the Institute of Chartered Accountants of India has suggested that a chartered
accountant shall not accept the audit of a company where he is relative of the company's managing director or whole-time director and he believes that he would not be in a position to express his independent
opinion.
Section 297 stipulates requirement for obtaining of Board's sanction for certain contracts in which
particular directors are interested, does not come into play where a relative of a director is appointed as an auditor of the company. [DCA Circular No. 13, dated 5-6-1975]
On the basis a director of company can not appoint as auditor of the company.
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 05 April 2012
Dear AM query is regarding Director as Statutory Auditor not regarding Director’s relative as Statutory Auditor. But thanks anyways for relevant info.
Now come to the point as per section 226(3)(b) of the companies act, 1956, an officer or employee of the company cannot be appointed as Statutory Auditor of the company.
Further definition of officer is given in section 2(30) of the companies act, 1956 according to which a director is an officer of the company.
Conclusion: A director of the company cannot be appointed as Statutory Auditor of the company by virtue of section 2(30) read with section 226(3)(b) of the companies act, 1956.
Best Regards
priyanshu saxena
(MBL LL.B.(Hons.) CS (Professional) with 4 yrs exp as Law editor in Thakur Publishers Pvt. Ltd.)
(2653 Points)
Replied 05 April 2012
thanks ajay bhaiya actually m preparing minutes f a meeting just for exercise and i have to mention the following points in the minutes
i have done the Minutes upto the chairman welcomed the members and introduced the Directors
To read and confirm minutes of the previous meeting
To approve the annual accounts (m confusing if the adoption of annual accounts is the same thing)
To establish the directors in place of Mr. X and Mr. Y.
To appoint an auditor for ensuing year
Any other matter with the permission of the chair.
Aditya Soni
(CS Final Student Trainee)
(727 Points)
Replied 05 April 2012
Can any ne tell me how and where to upload the quarterly compliance report on corporate governance?
Shristi Bawari
(CS PROFESSIONAL & Trainee at GE Shipping)
(128 Points)
Replied 05 April 2012
Visit connect2nse.com/LISTING.
Aditya Soni
(CS Final Student Trainee)
(727 Points)
Replied 05 April 2012
Thank you very much for the quick reply.
Shristi Bawari
(CS PROFESSIONAL & Trainee at GE Shipping)
(128 Points)
Replied 05 April 2012
Thanks a lot Ajay Sir and Ankur Sir. Its a great way for us to get our doubts cleared.
Ajay Mishra
(Company Secretary)
(74337 Points)
Replied 05 April 2012
Hello Priyanshu......
Aap kis meeting ka minuts bana rahe ho....Board or AGM.
(Guest)
| Originally posted by : Shristi Bawari | ||
 |
Thanks a lot Ajay Sir and Ankur Sir. Its a great way for us to get our doubts cleared. |
 |
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