(3)Examine whether the following persons are eligible for appointment as auditor under the Companies Act, 2013: (i) Mr. Prakash (CA) — whose relative Mr. Aakash holds securities of ABC Ltd. of face value ₹70,000 (market value ₹1,10,000). Directors want to appoint Mr. Prakash as auditor. (ii) Mr. Ramesh (practicing CA) — indebted to MNP Ltd. for ₹6 lakhs. Directors want to appoint him as auditor. (iii) Mrs. KVJ, spouse of Mr. Kumar (CA), is the store keeper of PRC Ltd. Directors want to appoint Mr. Kumar as auditor.
Log in to view this content
Create a free account or log in to access notes and past papers.
Log in / Sign up — free