Removal of 1st Auditor-Urgent.

[KARAN B. KHATTRI]

Dear all,

I have a confusion regarding removal of 1st Auditor of the Company. I want to remove 1st Auditor of the Company (Public Company) before 1st AGM and appoint new auditor. I have to take approval of Central Government or for the 1st auditors this is not required.  I talk with some CA frd they told me that CG Approval is not Required.  I go through section 140 of the CA-2013 but unable to understand. Please guide me with relevant provisions.

Thank You....

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always with you 
Karan B. Khattri
Email: khattr...@gmail.com
Mob. No: - 09748629585

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[santosh kumar sabat]

Dear Sir,


Recently central govt. approval is not required. In your case, EGM of members and special resolution is required.


regards




On Sat, 23 Aug 2014 11:13:30 +0530 "KARAN B. KHATTRI" wrote

>Dear all,

I have a confusion regarding removal of 1st Auditor of the Company. I want to remove 1st Auditor of the Company (Public Company) before 1st AGM and appoint new auditor. I have to take approval of Central Government or for the 1st auditors this is not required. I talk with some CA frd they told me that CG Approval is not Required. I go through section 140 of the CA-2013 but unable to understand. Please guide me with relevant provisions.

Thank You....
--

always with you

Karan B. Khattri

Email: khattr...@gmail.com

Mob. No: - 09748629585No candle loses its light while lighting another candle..so never stop sharing and helping.

Please Do Not Print This Email, Unless You Really Need To.

Save Paper Save Environment.

--
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CA. Santosh K. Sabat

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[Biswaranjan Pattnaik]

Dear Sir,

Section 140 provides that auditor appointed under section 139 may be removed from his office before the expiry of his term only by a special resolution of the company, after obtaining the previous approval of the Central Government in that behalf.

1st auditor of a company is also appointed u/s 139 and to be more precise under sub-section (6) of section 139 and his term expires only on conclusion of 1st AGM. Hence, for removal of such auditor before conclusion of 1st AGM, approval of the central government is required.

 

With Regards,

 

Biswa Ranjan Pattnaik, FCA

Partner,

Kar & Pattnaik, Chartered Accountants, N2/171, IRC Village, Nayapally, Bhubaneswar, Pin-751015, Tel. No:  (0674)2558051, Mobile No: 9437011066

[KARAN B. KHATTRI]

Thank you sir. I also agree with your point. But some friends told me that without central government Approvals it is possible.. So I confused.

[CA Sumit Parolia]

But in case of auditor itself resign then no need

[KARAN B. KHATTRI]

If auditor resign the process is very easy.