Appointment of auditor
This query is : Open
Shobhit Jain
(Querist)
05 September 2019
What is the penalty for non-intimation for the appointment of auditor by a private company?
AND
What is the penalty if a private company failed to appoint an auditor within relevant time limit?
AND
What is the penalty if a private company failed to appoint an auditor within relevant time limit?
Rajesh Kumar Verma
(Expert)
07 September 2019
@ first query, every company shall file a notice of appointment of individual or a firm as an auditor with the Registrar within fifteen days of meeting in which auditor is appointed.
@ both query, In case of failure in both the cases as you mentioned, the company shall be punishable with fine which shall not be less than twenty-five thousand rupees but which may extend to five lakh rupees and every officer of the company who is in default shall be punishable with imprisonment for a term which may extend to one year or with fine which shall not be less than ten thousand rupees but which may extend to one lakh rupees, or with both.
@ both query, In case of failure in both the cases as you mentioned, the company shall be punishable with fine which shall not be less than twenty-five thousand rupees but which may extend to five lakh rupees and every officer of the company who is in default shall be punishable with imprisonment for a term which may extend to one year or with fine which shall not be less than ten thousand rupees but which may extend to one lakh rupees, or with both.
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