21 April 2017
While googling the above doubt, i happened to notice the personal view of a Company Secretary on the matter which is as follows:
"since subsection (1) of section 139 is subject to sub section (2) and (6), the appointment till 6th AGM is subject to the condition of 5 year term stipulated in subsection (2). Hence if such a Company falls under section 139(2), reappointment of first auditor as Auditor at the first AGM shall be for 4 years i.e. till the conclusion of 5th AGM and not 6th AGM. "
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