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Rotation of auditor
Cutt off date from where 10 years to be counted.
Suppose our firm is auditor from previous 20 years on April 2015.
Whether it is eligible to be appointed in the current year or not.
Replies (1)
cutoff date..
2. In the Companies Act, 2013, in section 139, in sub-section (2), for the third proviso, the following proviso shall be
substituted, namely:-
"Provided also that every company, existing on or before the commencement of this Act which is required to comply with the provisions of this sub-section, shall comply with requirements of this sub-section within a period which shall not be later than the date of the first annual general meeting of the company held, within the period specified under sub-section (1) of section 96, after three years from the date of commencement of this Act.".
2. In the Companies Act, 2013, in section 139, in sub-section (2), for the third proviso, the following proviso shall be
substituted, namely:-
"Provided also that every company, existing on or before the commencement of this Act which is required to comply with the provisions of this sub-section, shall comply with requirements of this sub-section within a period which shall not be later than the date of the first annual general meeting of the company held, within the period specified under sub-section (1) of section 96, after three years from the date of commencement of this Act.".
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