URgent Pls

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

31 March 2010 Hi there,

These are my findings below :

where an auditor appointed at an annual general meeting (U/S224(1)refuses to accept the appointment., the appointment can not be regarded as complete and effective, because it can be so regarded only when the appointment is accepted by the auditor.

Should the Pvt ltd co hold an EGM

Or

Do they follow the below Procedure:
In this situation also, it may be regarded that no auditor had been appointed by the company at its annual general meeting and thereupon the Central Government would be
eligible to appoint the auditor to fill the vacancy. For this purpose, an application has to be made by the company to the Regional Director (to whom the powers have been delegated under sub-sections (3), (4) and (8)(a) of sections 224), within 7 days of the conclusion of the meeting, for appointment of an auditor and fixing his remuneration.

There is no prescribed form of application but the application must disclose with sufficient details, the circumstances attending the failure of the company in the annual general meeting to appoint auditors

The company shall, within seven days of the failure to appoint auditors, give
notice of that fact to the Government under section 224(3)
Board of Directors cannot be authorized by the shareholders to appoint new auditors, in case the auditors appointed in the annual general meeting refuse to accept the
appointment.

Querist : Anonymous

Querist : Anonymous (Querist)

01 April 2010 resolved

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now