CCI Online Coaching    |    x

Casual Vacancy

This query is : Resolved 

22 August 2008

According to Section 224(6) of the Companies ACt, Casual vacancy arising due to death, disqualification or dissolution ofthe firm of auditors can be filled up by the Board of Directors. Here the term "may" has been used in the Act. Is it mean that the casual vacancy in the above case may also be filled by the Shareholders in a general meeting?

Srinath A. N. (Expert)
22 August 2008

Yes. Under the Act, Appointment of statutory auditors is the prirogative right of the shareholders. Only in case of first auditors and casual vacancy, the Board is authorised to appoint statutory auditors. Hence, the Shareholders ate always having right to appoint Statutory Auditors of the Company.

You need to be the querist or approved CAclub expert to take part in this query .

Click here to login now

× Online Coaching My Enrolled Courses
Articles Forum News Experts Exams Share Files Income Tax Accounts Career Corporate Law Service Tax Video Judgements Rewards Top Members Events Albums Find Friends Featured Feed Scorecard Bookmarks Mock Test Poll Notification Knowledge Finder Coaching Institutes Trainee Corner Jobs
close x