Mrs Monali Chartered Accountant is a partner in a MNL Audit firm The Firm have business relation wit...........

Companies Act-Phase (I & II) Audit and auditors

Mrs. Monali (Chartered Accountant) is a partner in a MNL Audit firm. The Firm have business relation with M/s Reliance Ltd. which is an associate company of M/s TATA Ltd. Whether Mrs. Monali is eligible to appoint as auditor in M/s TATA Ltd.?

Yes

Partly Yes

Partly No

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Explanation:

Section 141(3) (e) of the Companies Act, 2013, a person or a firm who, whether directly or indirectly, has business relationship with the company, its subsidiary or its holding or associate company or a subsidiary of such holding company or associate company of such nature as may be prescribed.

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