Opinion on company law. regarding auditor qualifications

Need an opinion on New Companies Act, 2013, Regarding auditor eligibility/qualifications. The facts are as under:

1.      There is a DSE listed company A .

2.      Y is auditor for company A

3.      There is Director X in company A

4.      There is Pvt Ltd co B formed on Sep 2013

5.      The shareholders  of B ltd includes X 85% and wife of the auditor 15%

6.      Now can Y audit company A or would it be disqualified for the same on grounds of independence etc. for              FY 13-14 and FY 14-15

7.      If cant audit then process to change auditor , calling EGM etc and whether change in Mar 14 or May 14.

         Thanks