Appointment of auditor
This query is : Resolved
prachi gupta
(Querist)
15 November 2014
What will happen if auditor is not appointed as per system and days given in section 139, suppose first auditor is not appointed by BOD and Shareholders, then who will appoint?
Can we call vacancies as casual vacancies?
CS Mitesh Mehta
(Expert)
15 November 2014
Instances of casual vacancy :-
1. Death
2. Resignation
3. Disqualification – If an existing auditor gets disqualified under Section 141 then he shall inform the company and the situation will be treated as casual vacancy (Section 141(4))
4. Failure of ratification at AGM – If the ratification resolution fails at the AGM of company then this also tantamount to casual vacancy(explanation to rule 3).
The Act is silent on appointing authority in case of failure of appointment of first auditor by Board & members.
Instances of casual vacancy :-
1. Death
2. Resignation
3. Disqualification – If an existing auditor gets disqualified under Section 141 then he shall inform the company and the situation will be treated as casual vacancy (Section 141(4))
4. Failure of ratification at AGM – If the ratification resolution fails at the AGM of company then this also tantamount to casual vacancy(explanation to rule 3).
The Act is silent on appointing authority in case of failure of appointment of first auditor by Board & members.
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prachi gupta
(Querist)
15 November 2014
Thanks sir, so sir what will happen if there is no appointment or invalid appointment
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