Adt 1

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Arsha N S (Querist)
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23 November 2016 Whether the first auditor of the company can be appointed as the auditor in the first annual general meeting. if yes whether he will be appointed for five years or four years?

if he can appointed for five years whether we have to mention the period of his appointment as first auditor in the following particular of form ADT 1

"Specify the tenure of previous appointment(s) of the auditor or auditor's firm or its member in the same company in which audit was conducted or is functioning (excluding previous years having break of five or more years as specified
in Rule 6)"

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CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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23 November 2016 As per Section 139(6), Appointment of First Auditor shall be by the Board within 30 days from the date of incorporation.
In case of Board’s failure, an EGM shall be called within 90 days to appoint the first auditor.The First Auditor hold the office till the conclusion of 1st Annual General Meeting.

As per section 139(1) every company shall appoint at its 1st annual general meeting an individual or a firm as an auditor of the company who shall hold office 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 i.e The appointment of auditors shall be made for a 5 year term subject to ratification at every Annual General Meeting.

In ADT- 1 -Tenure of previous appointment is NIL