Sir u/s 139(2) a listed co. can't appoint an individual as an auditor for more than 1 term of 5 yrs. let us say an individual appointed in 1st AGM has to get retired in 6th AGM but in 6th AGM no appointment or reappointment has been made. So in that case existing auditor shall continue to be the auditor but he can't continue bcuz of sec 139(2). Sir in this case which provision shall prevail??

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Sir u/s 139(2) a listed co. can't appoint an individual as an auditor for more than 1 term of 5 yrs. let us say an individual appointed in 1st AGM has to get retired in 6th AGM but in 6th AGM no appointment or reappointment has been made. So in that case existing auditor shall continue to be the auditor but he can't continue bcuz of sec 139(2). Sir in this case which provision shall prevail??

Questions › Category: Co. Audit - I › Sir u/s 139(2) a listed co. can't appoint an individual as an auditor for more than 1 term of 5 yrs. let us say an individual appointed in 1st AGM has to get retired in 6th AGM but in 6th AGM no appointment or reappointment has been made. So in that case existing auditor shall continue to be the auditor but he can't continue bcuz of sec 139(2). Sir in this case which provision shall prevail??

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Shreyas Lombar asked 6 years ago

1 Answers

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Ravi Staff answered 6 years ago

Please refer link below it explains your doubt, please comment if still there is doubt.

http://auditguru.in/question/sir-if-in-agm-no-auditor-is-appointed-or-reappointed-then-he-is-automatically-reappointed-doesnt-rotation-apply-to-them/