Appointment of auditor due to casual vacancy

Co Act 2013 506 views 2 replies

Abbasali Sunasara

Company secretary

25 Points Joined July 2016

Appointment of Auditor due to casual vacancy other than resignation or removal or disqualifiation as mentioned under Section 141 (3) of the Companies Act 2013.

AS per the MCA circuler that Auditor holding position as Statutory Auditor for more then 10 year has to vacate the office and in place appoint new auditor as per the provision of Section 139 and for that colloing period of 3 year has been given.

Now question is if Auditor is not appointed on last date i.e. 29.09.2017, what is the procedure required to be follow and how to appoint new Auditor in place of old one.

what are the complinace required to be follows in case of Listed Company.???

Please suggest

Replies (2)

Vikram Sharma

Company Secretary

32 Points Joined November 2014

have you not appointed new auditor in General meeting?

Umesh Vyas

Practicing Company secretary

4 Points Joined November 2017

No automatic reappointment of auditor if not appointment in AGM.

Sofar as listed company is concern, Audit committee search new auditor in above case, put it's recommendation before board, board further, if agreees with it, recommend it to members in AGM.

Office of auditor get vacated after completion of 3 years from 1/4/2014

May I know why new auditor is not appointed?