We are a Pvt. Ltd. Co. and has appoined partnership firm consisting of two partners as auditors of the Company at the AGM held on 30/09/2014 for a period of 5 years (from 01/04/2014 to 31/03/2019. Now, one of them, who signs our Balance Sheets and do all the works of our company wants to ceases to be a partner and willing to form a sole proprietorship firm and will continue as auditor of our company.
Is this situation giving rise to casual vacancy?
OR
There would be no casual vacancy and we just have to file new ADT-1 by new resolution in the upcoming AGM and the number of financial years to which appointment relates will be the same as earlier, i.e. from 01/04/2014 to 31/03/2019?
CAclubindia
