Removal of first auditor

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vidha (Querist)
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16 September 2013 HEY ALL,
A CO. IS FORMED IN AUGUST 2012 & WITHIN ONE MONTH FIRST AUDITOR IS APPOINTED BY BOD. NOW AS PER CO. LAW THE FIRST AGM SHOULD BE HOLD WITHIN 18 MONTHS. SO MY QUESTION IS WHAT IS THE PROCEDURE TO REMOVE FIRST AUDITOR BY BOD BEFORE AGM...PLEASE QUOTE THE RELEVANT SECTIONS....& IF POSSIBLE THE EXACT EXTRACT OF BARE ACT...
I WILL BE REALLY THANKFUL.....:)

Ajay Mishra

Ajay Mishra (Expert)
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16 September 2013 Hi

Go to the following link:

https://www.caclubindia.com/forum/removal-of-auditor-263749.asp#.UjbzUxenyVE

vidha

vidha (Querist)
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17 September 2013 THANKS AJAY JI....
BUT THE ABOVE LNK IS ALL ABOUT DIRECTOR'S REMOVAL AND I WANT TO KNOW ABOUT FIRST AUDITOR

Ankur Garg

Ankur Garg (Expert)
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17 September 2013 Hi Vidha,

Normally for removal of auditor approval of Central Govt would be required u/s 224(7).

But for the removal of first auditor approval of Central Govt is not required and you can simply propose the name of new auditor in place of old auditor. This new auditor will be appointed by the shareholders.

Kindly read section 224(5) fully.

Regards

vidha

vidha (Querist)
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21 September 2013 THANKS ANKUR JI....
I WANT TO KNOW ABOUT BOARD POWERS TO REMOVE FIRST AUDITOR EVEN BEFORE FIRST AGM....

Ajay Mishra

Ajay Mishra (Expert)
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21 September 2013 The Board of Director has no power to remove auditor.

Ankur Garg

Ankur Garg (Expert)
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21 September 2013 There is no provision in company law where Board possess the power of removal of auditor. So I would also second the opinion of expert.

Thanks

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