Query regarding 2nd term of appointment of statutory auditors

[Ronak Parihar]

Dear Membrs,

I have a query regarding a case where a listed company has appointed a statutory auditors firm for their 2nd term for just 2 years(i.e. after completion of 1st term of 5 years appointment). Now they want to appoint the same auditors for 3 more years to complete the 5 years term as per the law. Can they do so? If we advise them to again appoint the same auditors for next 3 years, Is it possible that ROC can catch them and penalise them for this earlier 2 year appointment blunder?

Please reply!

Thanks & Regards

Ronak

[Ronak Parihar]

Please reply asap, It's Urgent!!