Appointment of auditor

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Dhaivat Trivedi (Querist)
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07 January 2012 Dear All,
A PVT LTD COMPANY HAS APPINTED ITS PREVIOUS AUDITOR AS ITS AUDITOR IN AGM FOR F.Y.11-12. AND AUDITOR HAS ALSO ACCEPTED THE APPOINTMENT.
NOW THE BOARD WANTS TO APPOINT ANOTHER AUDITOR. WHAT IS THE PROCEDURE TO BE FOLLOWED? WILL THIS BE POSSIBLE?
THANKS IN ADVANCE FOR EARLY REPLY.

CA Sachin D Jain

CA Sachin D Jain (Expert)
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08 January 2012 Once, auditor is appointed in AGM, then he cannot be removed until next AGM.

The auditor himself, can vacate the office, due to resignation or any other reason like death or insolvency. In case of vacation of office, other than by resignation, the new auditor can be appointed by BOD. In case of vacation of office by resignation, the new auditor has to be appointed by shareholder in Extra ordinary general meeting.

Dhaivat Trivedi

Dhaivat Trivedi (Querist)
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08 January 2012 PLEASE SUGGEST IF ANY PRACTICAL WAY OUT IS POSSIBLE?.I HAVE SEEN SOME COMPANIES IN WHICH AUDITOR IS REMOVED AFTER HE IS APPOINTED IN AGM.

Dhaivat Trivedi

Dhaivat Trivedi (Querist)
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08 January 2012 PLEASE SUGGEST IF ANY PRACTICAL WAY OUT IS POSSIBLE?.I HAVE SEEN SOME COMPANIES IN WHICH AUDITOR IS REMOVED AFTER HE IS APPOINTED IN AGM.

CA. Krishna K Neeraj

CA. Krishna K Neeraj (Expert)
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09 January 2012 In addition to Sachin reply, a auditor appinted in AGM can also be removed by the company in EGM provided central Govt permission has been obtained in this regard.

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