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TMI BlogDefinition of a relative for appointment as Statutory Auditor of a companyX X X X Extracts X X X X X X X X Extracts X X X X ..... Definition of a relative for appointment as Statutory Auditor of a company X X X X Extracts X X X X X X X X Extracts X X X X ..... restricting such Chartered Accountant to accept appointment in a company if such person from Mother or Father's side have controlling stake in the company, either as shareholders or directors or both ? Reply By Padmanathan Kollengode: The Reply: Section 2(77) of Companies Act, 2013 read with Rule 4 of Companies (Specification of definitions details) Rules, 2014 - A person shall be deemed t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o be the relative of another, if he or she is related to another in the following manner, namely:- (1) Father: Provided that the term "Father" includes step-father. (2) Mother: Provided that the term "Mother" includes the step-mother. (3) Son: Provided that the term "Son" includes the step-son. (4) Son's wife. (5) Daughter. (6) Daughter's husband. (7) Brother: Provided that the term "Br ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... other" includes the step-brother;
(8) Sister:
Provided that the term "Sister" includes the step-sister.
Therefore mother's brother and sister or father's brother and sisters will not be considered as "relative" for appointment as statutory auditor purpose. X X X X Extracts X X X X X X X X Extracts X X X X
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