State, whether the following persons are eligible to be appointed as auditor of a company under the provisions of the Companies Act, 2013: Directors of MNO Ltd. (the company) want to appoint Keshav, a fellow member of IC

As per section 141 (3) (d) (iii) of the Companies Act, 2013 read with rule 10 of the Companies (Audit and Auditors) Rules, 2014 , an auditor is disqualified to be appointed as an auditor if he or his relative or partner has given a guarantee or provided any security in connection with the indebtedness of any third person to the company, or its subsidiary, or its holding or associate company or a subsidiary of such holding company, in excess of one lakh rupees. In the given situation, Keshav will be disqualified to be appointed as an auditor of MNO Ltd as his partner (i.e. Naveen) had given a guarantee for ₹1.10 lakhs (i.e. more than the limit of ₹1 lakh), in connection with the indebtedness of any third person to the subsidiary of the company.