Appointment of auditors at agm, ca 2013

1. You are right as Notice & Dir. report will be prepared as per the old CA, 1956. Refer MCA Circular No. 08/2014.

1. Board resolution passed for adoption of annual accounts is to be filed with ROC through filing of form MGT.14 within 30 days of passing resolution.

1. Keeping in view 3 years transitional period, this year you may appoint auditor until the conclusion of next AGM. Reliance Industries did the same thing. You may download their annual report for reference.

Thanks

Ankurji, small correction please.  MCA circular talks about Board's report to be as per old Act,  It does not talk about AGM notice.  Hence AGM notice has to be as per new Act only since relevant sections have been notified.  Some of the points to be noted in AGM notice are:

- CIN, e-mail ID, website etc. to be included in notice.

- Now even private companies have to call their AGM at registered office only

- Appointment of auditors as per new provisions

- Appointment of independent directors (wherever applicable)

- Approval of remuneration of cost auditors (wherever applicable)

- Deposit of Rs.1 lac as deposit u/s 160 for directorship

- DIN to be mentioned after names of directors to be appointed

- Explanatory statement as per Sec.102 of new Act

- New form of proxy

- Restrictions on proxy - cannot represent more than 50 members etc. etc.

I understand the non-applicability of Rotation of auditors in our case(PUC<20 crores).But reappointment of auditors is applicable. 

The existing auditors has been appointed in the company since 2012-13. Shall we reappoint them for another 3 years (2014-15 to 2016-17) as 2 years has already elapsed or 5 years.(wef 2014-15 to 2018-19)

Ankur Sir, please explain that whether this 3 years transitional period is for appointment of auditors or rotation of auditors