Dear Sir,
We are a private Limited company with a total capital of less than Rs 10 crores. Kindly advise us if we have to mandatorily appoint auditors for a period of 5 years.
I do not think we come under Section 139 (2) provision because we are not listed company, we are not having any bank borrowings or public borrowings .
Kindly confirm if my understanding of the provisions for appointment of auditors for 5 years is correct. Since we do not come under the provision I feel there is no requirement for appointment for 5 years in one AGM.
Thanks for your reply in advance.
Ranganathan.

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