Removal of auditor because of non retification
This query is : Resolved
Kanika Upreti
(Querist)
21 March 2016
"As per the provisions of Section 139 of Companies Act, 2013 when auditor is not retified by the members in AGM then BOD shall appoint other individual or firm as its Auditor"
The above said provision is somehow similar with removal of auditor at general meeting U/s 140 as in both the cases auditor should have to leave his place on the discretion of members/shareholders. In above said case why permission of CG is not required???
The above said provision is somehow similar with removal of auditor at general meeting U/s 140 as in both the cases auditor should have to leave his place on the discretion of members/shareholders. In above said case why permission of CG is not required???
CS Mitesh Mehta
(Expert)
22 March 2016
Note that If the ratification resolution fails at the AGM of company then this also tantamount to casual vacancy(explanation to rule 3 of Companies (Audit and Auditors) Rules 2014.
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