19-10-2016, 10:37 AM #1
Appointment of an Auditor at the first Annual General Meeting - Companies Act 2013
Section 139(1) lays down that every company shall, at the first annual general meeting, appoint an individual or a firm as an auditor who shall hold office from the conclusion of that meeting till the conclusion of its sixth annual general meeting and thereafter till the conclusion of every sixth meeting. Provided that the company shall place the matter relating to such appointment for ratification by members at every annual general meeting.
The following procedure is to be followed for appointment of an auditor at the first Annual General Meeting [Section 139 & 141 and Rule No. 3, 4 and 10 of the Companies (Audit and Auditors) Rules, 2014] - https://lexcomply.com/l9u5LexComply - Compliance Management Solutions