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Q. > Please Help: corporate law
what is the procedure to be followed under company law, if a statutory auditor want to resign from a pvt ltd company.
answered Mar 20, 2012 by Akanksha Handa
When statutory auditor resigns from the office casual vacancy is created.As per section Section 224(6) in The Companies Act, 1956
(6) (a) The Board may fill any casual vacancy in the office of an auditor; but while any such vacancy continues, the remaining auditor or auditors, if any, may act: Provided that where such vacancy is caused by the resignation of an auditor, the vacancy shall only be filled by the company In general meeting.
(b) Any auditor appointed in a casual vacancy shall hold office until the conclusion of the next annual general meeting.
answered Mar 20, 2012 by CA Satuti Mahajan , batala
When a statutory auditor resigns, a casual vacancy arises and to fill this vacancy, an extra ordinary general meeting is hold in which a new auditor is appointed.
answered Mar 20, 2012 by lavina bajaj , Mumbai
hello
section 224 on appointment and remuneration of auditors under the companies act, 1956 states that: -
section 224(6) (a) The Board may fill any casual vacancy in the office of an auditor; but while any such vacancy continues, the remaining auditor or auditors, if any, may act:
Provided where such vacancy is caused by the resignation of an auditor, the vacancy shall only be filled by the company in general meeting.
(b) Any auditor appointed in a casual vacancy shall hold office until the conclusion of the next annual general meeting.
i hope your query is resolved..
Experts Panelist
Comments
CS Shilpi Bhardwaj
21-Mar-2012 , 02:17:27 pmDear Mr. Pawan As said my Learned friends, this is right the appointment can only be made as per provisions of section 224(6) by general body meeting only. In such a case first you need to take take resignation from retiring Auditor then call a EGM then pass a Ordinary Resolution for the Appointment of new Auditors in place of retiring auditors (who resigned). Any auditor apppointed in a casual vacancy shall hold office until the conclusion of the next annual general meeting. If you need the Resolution or format of notice then let me know