Qualifications and disqualifications of auditors.

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....vided that a firm whereof all the partners practising in India are qualified for appointment as aforesaid may be appointed by its firm name to be auditor of a company, in which case any partner so practising may act in the name of the firm.      (2)(a) Notwithstanding anything contained in sub-section (1), but subject to the provisions of any rules made under clause (b), the h....

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.... [4][the territories which, immedia­tely before the 1st November, 1956, were comprised in Part B States] for the purposes of clause (a), and prescribing conditions and restrictions for such grant, renewal, suspension or cancellation. (3) None of the following persons shall be qualified for appointment as auditor of a company__      (a) a body corporate;   &nbs....

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.... an officer or employee shall be construed as not including references to an auditor. (4) A person shall also not be qualified for appointment as auditor of a company if he is, by virtue of sub-section (3), disqualified for appointment as auditor of any other body corporate which is that company's subsidiary or holding company or a subsidiary of that company's holding company, or would be so disq....