Appointment of internal auditor

As per understanding of Ankur Garg a prior board resolution is not required for the appointment of Internal Auditors. A simple noting in the next BM would be enough.   Appointment Resolution “RESOLVED THAT consent of the board of directors of the company be and is hereby given to the appointment of M/s. _____________, Chartered Accountants, Address as Internal Auditor of the company for the F.Y. 2010-2011 and Ms. Chanda Kocher, Managing Director of the company be and is hereby authorised to fix the remuneration from time to time in consultation with the Audit Committee.” Take note Resolution The engagement letter for the appointment of Internal Auditor as per draft placed before the board. The Board took note of the same and the following resolution was passed unanimously:   RESOLVED THAT the engagement letter as per draft placed before the board and signed by the Chairman for the purpose of identification for the appointment of M/s _______________ as Internal Auditor of the company for the F.Y. 2010-2011 be and is hereby approved.

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