Companies Act, 1956
Section - 224A - Auditor not to be appointed except with the approval of the company by special resolution in certain cases
[Auditor not to be appointed except with the approval of the company by special resolution in certain cases.224A. (1) In the case of a company in which not less than twenty-five per cent of the subscribed share capital is held, whether singly or in any combination, by— (a) a public financial institution or a Government company or Central Government or any State Government, or (b) any financial or other institution established by any Provincial or State Act in which a State Government holds not less than fifty-one per cent of the subscribed share capital, or (c) a nationalised bank or an insurance company carrying on general insurance business,the appointment or re-appointment at each annual general meeting of an auditor or auditors shall be made by a special resolution.(2) Where any company referred to in sub-section (1) omits or fails to pass at its annual general meeting any specia .... To read the full section download the app from Google Play store
CAclubindia
