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Mayuri Lal (officer CS)     24 March 2011

Casual vacancy caused by resignation of AUDITOR_URGENT

Dear Members,

 

The procedure for appointment of auditor du to resignation is as follws-

1. Hold a BM to finalise new auditor then approve resignation of previous auditor then approve the notice of an EGM.

2. Ordinary Resolution will be passed in the EGM

3. Intimate new auditor about appointment

 

 

aM I RITE..

No form is to be filed with the ROC rite. ????

 

And canyone provide me with letters and certificates required for the above procedure.

 

ITS VERY URGENT

 

tHANKS

 

Mayuri Lal



 7 Replies

SANTOSH  SHAH

SANTOSH SHAH (Company Secretary)     24 March 2011

Originally posted by : Mayuri Lal

Dear Members,

 

The procedure for appointment of auditor du to resignation is as follws-

1. Hold a BM to finalise new auditor then approve resignation of previous auditor then approve the notice of an EGM.

2. Ordinary Resolution will be passed in the EGM

3. Intimate new auditor about appointment

 

 

aM I RITE..

No form is to be filed with the ROC rite. ????

 

And canyone provide me with letters and certificates required for the above procedure.

 

ITS VERY URGENT

 

tHANKS

 

Mayuri Lal

 

 Hi Mayuri

Its case of Casual Vacancy of Auditors.

Provisions of Section 224 applicable.

Casual vacancy is caused due to death, resignation or disqualification of auditors.

In case of resignation of auditors, the vacancy needs to be filled only through General Meeting.

 

Section 224(6)(a)

----------------------

(6) (a) The Board may fill any casual vacancy in the office of an auditor; but while any such vacancy continues, the remaining auditor or auditors, if any, may act:

 

Provided where such vacancy is caused by the resignation of an auditor, the vacancy shall only be filled by the company in general meeting.

 

(b) Any auditor appointed in a casual vacancy shall hold office until the conclusion of the next annual general meeting.

==============================================================================

Points to note:

 

1. Call Board Meeting, take note of Resignation

2. Call EGM, Fix  Venue and date of EGM , send notices

3. In EGM, take record of the same, and appoint another statutory auditors , who shall hold office only till

    conclusion of the forthcoming annual general meeting.

4. If resolution is ordinary no need to file form 23, if special do file form 23

5. Also the appointed auditor need to file form 23B from his end within 30 days of appointment.

Before appointing the new auditor, kindly take consent as required to act as auditor till the AGM,

and post EGM, intimate them of their appointment as auditors in place of earlier auditors holding office

Till AGM.

 

If i have missed out anything, experts please advice.

 

regards

Santosh Shah

Jayashree S Iyer

Jayashree S Iyer (Company Secretary)     25 March 2011

No need for any consent letter but you have to get a letter from the auditor that his appointment would be within limits specified in Section 224(1B).

 

Also get the approval of members in general meeting for the remuneration of Auditors.

 

Other procedural aspects enumerated by Santosh Shah is perfect.

Mayuri Lal

Mayuri Lal (officer CS)     25 March 2011

thank u

 

Ok so in all following documents will be required..

1) Board Resolution

2) Notice along with Explanatory Statement

3) Letter from the auditor that his appointment would be within limits specified in Section 224(1B).

 

Thats,it???

Any communication form teh resigning AUditor like NOn Objection Certificate and all or resignation Letter..??

 

Regards,

Mayuri Lal

HARDIK

HARDIK (COMPANY SECRETARY NCFM (Corporate Governance ))     25 March 2011

form 23B is required to be file with ROC.

Jayashree S Iyer

Jayashree S Iyer (Company Secretary)     25 March 2011

 

Originally posted by : Mayuri Lal

thank u

 

Ok so in all following documents will be required..

1) Board Resolution

2) Notice along with Explanatory Statement

3) Letter from the auditor that his appointment would be within limits specified in Section 224(1B).

 

Thats,it???

Any communication form teh resigning AUditor like NOn Objection Certificate and all or resignation Letter..??

 

Regards,

Mayuri Lal

 Of course the resignation letter would be required.  The trigger point for appointment of another auditor is the resignation of the present auditor.

 

Once he submits his resignation , what objecion he can have in appointing another in his place.  I don't think it's required.

 

Again appointment and remuneration is to be approved by shareholders in the general meeting.

ALI VIRANI

ALI VIRANI (PRACTICE)     19 September 2016

If auditor appointed in EGM, is it required to file form MGT-14 ?? ( I think every business of EGM is special business, so required to file MGT-14)

Poonam kayal

Poonam kayal (practising company secretary )     16 November 2016

what is procedure for casual Vacancy of Auditor .If the old auditor resigns on 10-08-2016 and the new auditor signs the balance sheet on 05-09-2016 and AGM date is 30-09-2016.

What all filing need to be done

What all drafting need to be done

can anyoone share the FORMS and Draft doc for reference at cspoonamkayal @ gmail.com.


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