sandeep (Practicing CA) (25 Points)
07 October 2016If a private company fails to appoint its first auditor within 30 days of its incorporation and also fails to appoint at EGM? What is the remedy available to the company?
The company was incorporated on 31.03.2015 and approached me for stautory audit on 28.09.2016? I am recently qualified CA and holding COP from 26.09.2016? Can I be appointed as first stautory auditor?
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 08 October 2016
Appointment as auditor cannot be made before issue of COP. If you are appointed on 26.9.2016, then:
1) AGM to be held at short notice with the consent of all members
2) Company will be liable to be punished u/s 147 for contravention of Sec.139(6).
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