Auditor appointment

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This query is : Resolved

Dhiraj Gupta (Querist)

26 May 2018 A private co. incorporated in oct 2015.
the co didnot filed any thing to any department yet.
i want to ask that what is the procedure to appoint auditor of the company as the first auditor whose named mentioned in MOA has surrendered the COP.
Which forms to be filled and wat are the penalties to be paid.
The co has not filled ITR also.
What are the complete formalities to be done in this case.

I'll be very thankful to the experts.
Thanks & Regards
Dhiraj Gupta

Jatin Bajaj

Jatin Bajaj (Expert)

26 May 2018 As your Company was incorporated on 25th October 2015, so the financial year ends on 31st March 2016 and as per section 96 of the Companies Act 2013, first AGM of the Company shall be held within 9 months from the closure of financial year. so due date of AGM. 31st December 2016. But as per section 139, first auditor shall be appointed by the Board within 30 days and on failure by Board by members wihin 90 days of incorporation and such auditor shall hold the office till AGM. so , the financials as on 31st March 2016 shall be signed by the first auditor. and at AGM the Company should have appointed auditor for 5 years who shall hold the office till 31st March 2021. And ADT 1 needs to be filled within 15 days of AGM and as in your case auditor was not appointed, then you have to file all the forms along with ADT 1 with late additional fees. And after 31st July 2018, additional fees of Rs. 100 per day shall also be levied in addition to late fees

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