Section 224a
This query is : Open
19 August 2011
Do provisions of section 224A- (Appointment of auditor by special resolution) applies on appointment of first auditor also?
19 August 2011
Appointment of first auditor's is governed by section 224(5) of the Companies Act,1956 for which section 224A do not apply.
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19 August 2011
I agree with the expert
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19 August 2011
Does it mean that if at the time of appointment of first auditor subscribers mentioned U/s 224A holds 25% or more of subscribed share capital then first auditor will be appointed by ordinary resolution if BOD fails to appoint the auditor within 30 days of incorporation?
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