Himanshu Bhutani asked 4 years ago
Can members appoint Auditor for less than 5 years. Eg. Can a resolution be passed that we appointment this Auditor and his tenure will be till the conclusion of 2nd next agm. If so… What will happen to retirement provisions and rotation provisions..?
Ravi Staff answered 4 years ago
Your doubts are important. Ravi sir will solve your doubts from 7th April, he is busy with PARAM batch of CA Inter / IPCC. For any admin related query call 9322011915 between 11am to 6pm on working days or mail at support@auditguru.in
Ravi Staff answered 4 years ago
Appointments cannot be less than 5 AGMs.
It is mandatory auditor for next 5 AGMs.
As per wordings in Sec 139(1)
Ravi Staff answered 4 years ago
139. (1) Subject to the provisions of this Chapter, every company shall, at the first annual general meeting, appoint an individual or a firm as an auditor who shall hold office from the conclusion of that meeting till the conclusion of its sixth annual general meeting and thereafter till the conclusion of every sixth meeting and the manner and procedure of selection of auditors by the members of the company at such meeting shall be such as may be prescribed