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Appointment of first auditor in general meeting

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(Querist)
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?
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Rupesh Jain

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Rupesh Jain (Expert)
19 June 2013 auditor will appoint by directo with in 30 days

if ano appoint by director then in first AGm auditor will appoint.

if they not appoint in agm then director will inform with in 7 days to central govt. and central govt will apoint Auditros.
if not inform to central govt then 5000/- penalty to company and each manager and offiecer will liable
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