Auditors' appointment

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Revati Sathe (Querist)
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09 September 2014 In case of Private limited company having paid up capital not more that 10 lacs and no borrowing , Auditor to be appointed for a period of 5 years and whether his remuneraion to be fixed at AGM or give authority to Board of Directors for deciding remuneraion ?

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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09 September 2014 At AGM, In resolution for appointment of auditor you can use the word "on such remuneration as may be mutually agreed upon
between the Board of Directors of the Company and the Auditors"

Revati Sathe

Revati Sathe (Querist)
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09 September 2014 Thanks a lot for your prompt reply

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