Clarification on provisions of Section 224A of the Companies Act, 1956

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....ted:  16-7-2001 Subject:-  Clarification on provisions of Section 224A of the Companies Act, 1956 ***** Department of Company Affairs had recently received a reference regarding clarification in respect of Section 224A of the Companies Act, 1956 which relates to appointment of auditor in certain cases with the approval of the company by special resolution. The clarification had ....

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....or or auditors shall be made by a special resolution. 2. The Querist was of the opinion that three clauses (a) to (c) mentioned in Sub-section (1) of that section (section 224A) should be treated as mutually exclusive. According to them, the aggregate holdings of the institutions grouped under either clause (a) or clause (b) or clause (c) of section 224A(1) are to be treated as mutually exclusi....