Resignation and appointment of auditor
This query is : Resolved
CA SONIYA AGARWAL
(Querist)
20 September 2014
A PRIVATE LIMITED COMPANY IS DESIROUS OF GETTING ITS FINANCIAL STATEMENT FOR F.Y. 2013-14 TO BE AUDITED BY DIFFERENT AUDITOR , HOWEVER SINCE FOR CURRENT F.Y. THE AUDITOR WOULD HAVE BEEN FIXED ON LAST AGM HELD ON SEPT 2013.
WHAT SHALL THE COMPANY NOW DO TO GIVE EFFECT TO REMOVAL OF LAST AUDITOR AND APPOINTMENT OF NEW AUDITOR AS PER COMPANIES ACT 1956 , SINCE TILL F.Y. 2013-14 , PROVISIONS OF COMPANIES ACT 1956 IS APPLICABLE.
WHAT SHALL THE COMPANY NOW DO TO GIVE EFFECT TO REMOVAL OF LAST AUDITOR AND APPOINTMENT OF NEW AUDITOR AS PER COMPANIES ACT 1956 , SINCE TILL F.Y. 2013-14 , PROVISIONS OF COMPANIES ACT 1956 IS APPLICABLE.
CS Mitesh Mehta
(Expert)
22 September 2014
REMOVAL OF AUDITOR-Section 140 (1) and Rule 7
The auditor appointed under section 139 may be removed from his office before the expiry of the term only by –
(i) Obtaining the prior approval of the Central Government by filling an application in form ADT-2 within 30 days of
resolution passed by the Board
(ii) The company shall hold the general meeting within sixty days of receipt of approval of the Central Government for
passing the special resolution.
(iii) The auditor concerned shall be given a reasonable opportunity of being heard.
The auditor appointed under section 139 may be removed from his office before the expiry of the term only by –
(i) Obtaining the prior approval of the Central Government by filling an application in form ADT-2 within 30 days of
resolution passed by the Board
(ii) The company shall hold the general meeting within sixty days of receipt of approval of the Central Government for
passing the special resolution.
(iii) The auditor concerned shall be given a reasonable opportunity of being heard.
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