TOPIC 57: QUICK REFERENCE TO “Query related to Statutory Auditor”

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Quick Reference to " Query related to Statutory Auditor " :-
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Query:-.
Abc ltd decide to appoint Mr, X as a Statutory Auditor of Company. ABC ltd is a listed Company. Mr X is already engaged as a Statutory Auditor in following Companies:-
8 Listed Companies
6 Public Companies.
6 Pvt Companies which has paid up capital of 500 Cr.
So, Whether Mr X can be appointed as Statutory Auditor of Abc ltd as per Companies Act, 2013??
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Answer :-.
1.No. He cannot be appointed as Statutory Auditor of Abc ltd as per Section 141 (3) (G) of Companies Act, 2013.
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2. As per Section 141(3) (G) the limit is of 20 Companies in which a person can be appointed as Statutory Auditor of Company excluding OPC,
Dormant Company, Small Companies, Pvt Co having paid up share capital of less than ₹ 100 Cr.
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3. Hence, as per the Query/ Question, Mr X is within the purview of Applicability of those Companies and that's why he cannot be further appointed as Statutory Auditor of Company excluding above Companies.
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Regards
ACA SOURAV BAGARIA