Change of first auditors of a private limited comapny

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Khushwant Singh (Querist)
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01 November 2011 Company xyz was created on 22-10-2007. First Annual return and financial statements were filed for the FY 31-3-2008 as per section 166 read with section 210 of the companies act 1956.
Now company wants to change its auditors for the FY 31.3.2009. What is the procedure for it.
Company is filing its returns under CLSS.

OR

Can the company opt to hold its first AGM on 21-4-2009. In that case the auditors appointment is required to be made only after 7-7-2009 because the firm came into existence on 6-7-2009. Is it possible

CA Neha Jain

CA Neha Jain (Expert)
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01 November 2011 As per section 224(5), first auditor is appointed for term ending till the first AGM.

Hence, the new auditor (it may or may not be the same who were the first auditor) should be proposed by the board of directors and the same should be appointed by the members in general meeting by passing a resolution.

Khushwant Singh

Khushwant Singh (Querist)
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01 November 2011 can the second auditors be appointed before the AGM in EGM. OR is there any compulsion for appointing second auditors in EGM.

For appointing auditors other than the retiring one, is any notice is required to be given to the retiring auditors

CA Neha Jain

CA Neha Jain (Expert)
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01 November 2011 Auditors of the company can only be appointed by the members (either in AGM or EGM)

First auditors are the exception which are appointed by the directors

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