auditor refused to accept the appointment

as auditor has declined the appointment it leads to a situation that there is no valid appointment of auditor in the agm.

in such case existing auditor shall continue to be the auditor of the company.

in case the existing auditor is disqualified, completed his tenure or a special resolution for not reappointing him is passed at the agm, then the agm will be adjourned for unfinished business. and at that agm provisions for appointment of auditor will apply