Auditors increase of fee
Querist : Anonymous
It is a matter of Board of Directors. No need to take it in general meeting. You just mentioned in shareholder resolution that at remuneration as decided by Board in consultation with auditor.
So no need to take it as ordinary business or special business.
Appointment of auditor will be covered under ordinary business.
To appoint M/s..... & Associates, Chartered Accountants, as auditors of the Company to hold office from the conclusion of this Annual General Meeting until the conclusion of the next Annual General Meeting and to fix their remuneration and to pass the following resolution thereof:
“Resolved That M/s ....... & Associates, Chartered Accountants (firm registration number 00), be and are hereby appointed as the auditors of the Company to hold office from the conclusion of this Annual General Meeting until the conclusion of the next Annual General Meeting on such remuneration as may be determined by the Board of Directors in consultation with the auditors.”
Querist : Anonymous
however, in april a revision letter comes for previous year for 2 lakh. now, i think, if shareholders have approved a particular amount, it should be informed in sept AGM that the fee has been increased.
but shud it be a specific agenda item or just approval of balance with provision of increase suffice?
If you wanted to place it AGM you can do so.
Querist : Anonymous
now if the resolution passed is not as u suggested (giving powers to Board)
can i just highlight the fact for increase recommended by Board in AGM at the time of adoption of balance sheet ?
RE-APPOINTMENT OF STATUTORY AUDITOR FOR THE FINANCIAL YEAR 2013-14
The Chairperson apprised the Board that in terms of Section 224 of The Companies Act, 1956, the Statutory Auditors are to be appointed, subject to the approval of the members in the forthcoming Annual General Meeting for auditing the Annual Accounts of the Company for the Financial Year ended 31st March, 2014. She further informed that a certificate under Section 224 (1B) of the Companies Act, 1956, has been received from the existing auditors M/s ..... & Associates, Chartered Accountants. The remuneration of auditor as audit fee is increased from Rs. 250000 to Rs. 300000 for the FY 2013-14. After due discussion the following resolution was passed unanimously:
“RESOLVED THAT pursuant to the provisions of Section 224(1) of the Companies Act, 1956 and subject to the approval of the members at the Annual General Meeting of the Company, M/s ..... & Associates, Chartered Accountants, be and are hereby appointed as the Auditors of the Company to hold office, from the conclusion of ensuing Annual General Meeting to the conclusion of the next Annual General Meeting of the Company at a remuneration as may be decided by the Board with the mutual consent of the auditors.”
Querist : Anonymous
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