Penalty for not appouinting of first auditor

This query is : Resolved

CS Alpesh Dhandhlya (Querist)
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14 September 2012 Dear Experts
As per the Section 224(1A) the Auditors needs to be appointed within 30 DAYS from the date of incorporation of a company. If we fail to do this WHAT IS PENALTY AND PROCEDURE FOR APPOINTING the Auditor.

Amol S Joglekar

Amol S Joglekar (Expert)
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14 September 2012 Normally the penalty is waived under such circustances.

CS Alpesh Dhandhlya

CS Alpesh Dhandhlya (Querist)
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14 September 2012 Dear Sir

Where the Penalty is given? I think Co.s Act provides No Penalty for the said.

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Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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15 September 2012 224(1A) is not auditor's appointment, but regarding auditors duty to inform ROC about his/her/ their appointment by filing e-Form 23B.

Kumar Gaurav

Kumar Gaurav (Expert)
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15 September 2012 Mr B. Chackrapani has rightly said Its Auditor duty to inform. You should check on your part that your Company have informed the Auditor regarding their appointment or not.

For your knowledge would like to share that wherever the Act is silent about penalty follow section 629A.

Keep in mind I am not saying about this section

Your case is different.