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Query regarding appointment of auditor

abhishek (Became a CA) (55 Points)

07 September 2014

dear experts my query is if a pvt company is incorporated in the month of feb14 at that tym no auditor was appointed can the same be appointed now before filng of rtrn and what the fees if any for late appointment thanks in advance

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Jaikishan (CA) (168 Points)
Replied 08 September 2014

As per Section 139(6) of companies act 2013, the first Auditors of a company are to be appointed always by the BOD within 30 days of registration of company and in case of failure to do so, the members shall be informed who shall within 90 days at an EGM appoint such auditor and such auditor shall hold office till conclusion of 1st AGM

There are no late payment fees prescribed, since the law is silent regarding the 90 days part (From where the 90 days needs to be considered).