clarification on Sec relating to auditors

[sangs1109]

Dear Members,

Please advise on the below:-

1. The appointment of first auditor in case of non government companies shall be done within 90 days by share holders in case board fails to do so within 30 days of registration. The act specifies that 90 days is to be considered from the date of information by the Board. If the Board does not inform the members, what is to be done?

2.      Casual Vacancy / Resignation of an auditor in middle of the term then the auditor is eligible for reappoint for how many terms/years.??

3.      When an auditor has completed a term and no new auditor has been appointed then whether the old auditor continues automatically??

4.      Whether holding of securities by relatives, is to be considered immediately or cumulatively for all relatives?

5.      If auditor resigned/removed in middle of his term and is willing to get appointed again whether the cooling period of 5 years is applicable?

Thanks and Regards

Sangeetha

[Sangeetha Laxmi]

Dear members,

Request help.

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[sravanthi g]

Dear Sangeetha,

Please find the answers below for few points. Others can confirm on the same.

1. The appointment of first auditor in case of non government companies shall be done within 90 days by share holders in case board fails to do so within 30 days of registration. The act specifies that 90 days is to be considered from the date of information by the Board. If the Board does not inform the members, what is to be done? - It becomes a non-compliance on part of the board and those will be liable for non-compliance.

2.      Casual Vacancy / Resignation of an auditor in middle of the term then the auditor is eligible for reappoint for how many terms/years.?? - Till the upcoming AGM

5.      If auditor resigned/removed in middle of his term and is willing to get appointed again whether the cooling period of 5 years is applicable? - Not applicable, as he is resigned / removed. 

Thanks & Regards,

CS Sravanthi Raviteja

On Mon, Jan 4, 2016 at 1:58 PM, sangs1109 <sang...@gmail.com> wrote:

Dear Members,

Please advise on the below:-

 

 

 

3.      When an auditor has completed a term and no new auditor has been appointed then whether the old auditor continues automatically?? 

 

4.      Whether holding of securities by relatives, is to be considered immediately or cumulatively for all relatives?

 

Thanks and Regards

Sangeetha

[sravanthi g]

On point no. 3, I think they will continue to hold the position as Statutory Auditors.

Thanks & Regards,

CS Sravanthi Raviteja

[Sangeetha Laxmi]

thank you madam