Suppose an INDIVIDUAL auditor who has conpleted his term of 5 year and in the 6Th AGM no auditor has been appointed. In this case this person will not be eligible for for re appointment right because he has completed his one term of 5 year which was max allowed to him
Brother it is subject to sec 139(2) Rotation of Auditor and Sec 140(4) Removal of auditor by special notice and if Auditor has given a notice in writing of his unwillingness to perform audit.
If these doesn’t occur, retiring auditor is reappointed. Proper ratification at AGM by shareholders is also to be taken.
first of all rotation is not applicable to all companies.
if rotation is applicable then individual’s term is over he cannot be reappointed.
no need for special notice under Sec 140 as rotation is applicable
good response shubham 🙂