Appointment of first auditor

This query is : Resolved

Neha Mishra (Querist)
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27 February 2015 Dear Sir

we incorporated our closely held pvt ltd company in last August Month (Aug 2014)
but still we have not appointed our Auditors

so I want to know what will be the consequences and what can we now do to appoint our first auditor

if any Additional fees or penalty be imposed cause 8 months have passed

please help

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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27 February 2015 Section 139(6) of the Act stipulated that first Auditor of the Company other than Government Company, shall be appointed by
the Board within 30 days of its date of registration and in case of failure to do so by Board of Directors, the members shall be informed and they shall appoint the same within 90 days form incorporation

Hold EGM and appoint first auditor within 90 days of incorporation.

Additional fees shall be applicable for delays
in filing of the forms
More than 90 days and upto 180 days-10 times of normal filing fees

More than 180 days and upto 270 days-12 times of normal filing
fees

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