RACHANA DAGA (CS) (555 Points)
31 March 2014Respected Madam/Sir,
As we know that section 139 of Companies Act 2013(hereinafter referred as “said act”) has been notified in the last week of March-2014.
We are not able to decode the term “No listed company or a company belonging to such class or classes of the companies as nay be prescribed, shall appoint or re-appoint “of subsection 2 of section 139 of the said act.
Kindly look into the matter and do us needful.
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 01 April 2014
It provides for mandatory rotation of auditors after every 5 years (in case of an individual auditor) or every 10 years (in case of audit firm).
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