Appointment of first auditor in general meeting

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Sushant Mahajan (Querist)
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11 June 2013 Please tell me the provisions regarding appointment of first auditor in a General Meeting and if there is any time limit on it?

Also, if any penalty is liveable on the Board for not doing so in the first month of incorporation?

Ajay Mishra

Ajay Mishra (Expert)
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14 June 2013 Hi

Procedure to file Form 23B (Appointment of First Auditor)

1. The company will call General Meeting to appoint an statutory auditor at General Meeting if auditor is not appointed at Board Meeting within one month from the date of incorporation of company.
2. Send letter of appointment to auditor within seven days from the appointment.
3. The auditor give letter of acceptance as auditor to the company.
4. The auditor also intimate ROC in Form 23B within 30 days from the date of acceptance of letter of appointment.
5. Form 23B can be download from www.mca.gov.in
6. Letter of appointment will be attached with Form 23b.
7. The SRN no will be generated with fee.

There is no penality for that, if you are not appointed them at Board Meeting.

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Sushant Mahajan

Sushant Mahajan (Querist)
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17 June 2013 Is there any time limit for conducting that general meeting for appointment of auditor?

Please reply Sir.

Ajay Mishra

Ajay Mishra (Expert)
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17 June 2013 yes, the appointment of auditor in general meeting should be completed before the first Annual General Meeting of the company, because the tenure of first auditor will be till the date of first AGM of the company.

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Sushant Mahajan

Sushant Mahajan (Querist)
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17 June 2013 Thanks a tonne Sir.

Ajay Mishra

Ajay Mishra (Expert)
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17 June 2013 My Pleasure.......

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