Resignation of auditor

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Amitesh kumar (Querist)
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23 February 2012 Auditor of one of the Listed company has resigned and intimation regarding this was sent to the BSE. No formal acceptance of the resignation has been made by the Board. After mutual discussion by the auditors and the Board, Auditors have agreed to continue.

Query is whether the auditor can withdraw their resignation or the company is required to call an EGM and comply with the procedure for appointment of auditors during casual vacancy.

Ajay Mishra

Ajay Mishra (Expert)
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24 February 2012 Hi

As per the proviso of section 224(6)(a) of the companies Act, 1956, where any vacancy is caused by the resignation of an auditor, the vacancy shall only be filled by the company in general meeting.

In your case the resignation was accepted by Board and intimated to Stock exchange. It means such auditor is ex auditor of the company.

Regards

Amitesh kumar

Amitesh kumar (Querist)
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24 February 2012 Thank You Mishra sir,
But here no formal acceptance of resignation has been made by Board. only intimation was made to BSE.

Ajay Mishra

Ajay Mishra (Expert)
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24 February 2012 Hi

If the auditor tender their resignation and you have intimated the same to Stock exchange , it means the company has taken the resignation. The Board meeting wil only take note of the same which you said that has not been noted.

I think, if you have not intimated the resignation then you have option to rectify the mistake otherwise you contact with exchange for the same.

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