As per Companies Act 2013, Auditor shall be appointed from the conclusion of First AGM till the conclusion of Sixth AGM. So can a First Auditor, who is appointed before First AGM by BOD or by Shareholders in an EGM, be appointed till the conclusion of Sixth AGM which allows him to serve for Six consecutive years?
Dear Sreeram,
Please read the Rule 6 of Chapter X (Attached herewith for your ready reference) and do read the tables given below to the rule 6.
Trust it would suffice your query.
Regards,
Avneesh Mishra.
| Originally posted by : Avneesh Mishra | ||
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Dear Sreeram, Please read the Rule 6 of Chapter X (Attached herewith for your ready reference) and do read the tables given below to the rule 6. Trust it would suffice your query. Regards, Avneesh Mishra. |
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I am asking in the case of New company. For example, first auditor for a company incorporated on 20/05/2015 will be appointed till 31/03/2016 by BOD or Members in EGM.Then in the first AGM can the same auditor be appointed for five years i.e.from 01/04/2016 to 31/03/2021 in which case, he will be functioning as auditor for more than 5 years continuously?
| Originally posted by : dig vijay | ||
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No, only the one appointed in first AGM or sixth AGM shall hold his office for five years. In your case he shall retire at first AGM | |
So do you mean that first auditor appointed by Board cannot be appointed in first AGM for 5 years?
Can you substantiate it?
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